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Showing posts from May 12, 2017

Eye Recognition Will Rival Fingerprint Sensors for the Future of Biometric Banking

In its latest biometric technologies market data report, ABI Research forecasts that fingerprint sensors in smartphones will surge to reach a 95% penetration rate of smartphone shipments by 2022. According to the firm this will prompt new opportunities for biometric technologies, such as eye recognition, to be utilized as part of novel identification and payment applications for both the banking and governmental markets.

While enterprise markets aggressively adopt vein recognition technologies in physical access control applications, eye recognition technologies will soon be one of the most secure modalities for consumer electronics authentication and secure mobile payments,” says Dimitrios Pavlakis, Industry Analyst at ABI Research.

The Asia-Pacific region are aggressively driving new implementations in biometric technologies

Steadily, one can observe that, biometric technologies are extending their reach in consumer electronics, while OEMs in the Asia-Pacific region are aggressively driving new implementations.
Many analysts converge their views on an exponential growth in mobile banking and payment apps as banks and financial organizations prove to be less timid when embracing new biometric implementations. ABI Research finds that OEMs and service providers are now actively targeting the emerging IoT, smart home, and automotive segments as future growth areas for biometrics.

Biometric blockchain capabilities

Dimitrios Pavlakis, Industry Analyst at ABI Research reveals that, Vein recognition workforce management software and access control solutions in the enterprise market show an impressive 18% five-year growth rate, boosted by market leaders like Fujitsu and Hitachi.
Innovative startups like HYPR are paving their ways in improving biometric blockchain capabilities, while wearable pioneers like Nymi are triggering a domino effect with heart rate-empowered payments.