Standard Chartered Bank to Roll out Biometrics for its Clients
Standard
Chartered will be progressing out a suite of biometric technologies across
Asia, Africa and the Middle East
London:
Standard
Chartered, a leading international banking group has announced that it will be
rolling out a fingerprint and voice biometric technologies for its clients. This
move will improve the security and speed up the mobile banking services on
smartphones and ipads through the finger touch.
The touch login service is already
being used in Singapore, the UAE and India, and it will be launched in China,
Hong Kong, Malaysia, Pakistan and several other countries by the end of 2016.
Further, the bank will also introduce voice biometric technology for phone
banking services for its clients in India and the UAE by the end of this
year.
TechSci Research analyses that
rising security concern has been driving the deployment of biometric technology
in online and mobile banking transactions. With this move, Standard Chartered
would enhance client service experience in terms of security and response time.
Increasing use of biometrics in e-commerce and across industries for
various security solutions, coupled with initiatives taken by the government of
various countries across the world to adopt biometrics systems for
identification and verification purposes are some of the major factors driving
demand for biometric solutions, globally.
According to the recent report published by TechSci Research, “Global
Biometrics Market By Type (Fingerprint Recognition, Facial Recognition, Hand/Palm
Recognition, Iris Scanner, Voice Recognition, Vein Scanner & Others), By
End Use Sector, By Region, Competition Forecast and Opportunities, 2011 – 2021”, Introduction of e-passports and e-visas, use of biometrics in
criminal identification, increasing demand for smartphones integrated with
biometric technologies and implementation of biometric technology in election
administration are anticipated to drive the global biometrics market over the
next five years.