OG: What are the current trends in the financial market?
EC: First of all, the usage of mobile devices was increased due to the pandemic COVID-19 which has made adjustments to our lives. Automatically, this greatly affected the reluctance of customers to visit local institutions. The digitalization process has proved unavoidable and necessary, and at the same time, the issue of security continues to provoke much debate due to the increasing number of hacks and theft the personal data.
It is worth realizing that customers expect more and more security and convenience in using mobile devices for any sphere of their lives. Authentication and onboarding procedures should be similar and secure for all providers.
OG: Banks started to use biometric solutions as a single authentication method and using it as one component of multi-factor authentication (MFA). What are the main benefits of biometrics usage in the customer authentication process?
EC: The main benefits of biometric solutions are:
- Mobile face and voice recognition
- Compliant with European regulations
- Convenient and easy to use
- Flexible device-, server- and browser-based
- Secure verification for documents worldwide
To learn more about biometrics, we invite you to participate in the upcoming #CEE22 SME Banking Conference, taking place on November 25 in Prague, Zofin Palace!
Choose a convenient way to participate and register here.