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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.

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