Unisys expects advances in biometric tech
23 January 2018 13:51 GMT

Financial services organizations will leverage advancements in security and predictive technology to improve their efficiency and customer experience, according to experts at Unisys. 

"We see the customer experience as the key differentiation point for banks' digital banking strategy," said Eric Crabtree, global head of Unisys Financial Services. "Today's customer is relying on his or her mobile device to bank as they go, while major hacks are keeping security concerns top-of-mind. We see a shift in the year ahead where banks move towards a more integrated, omnichannel business model that allows customers to pay bills, apply for mortgages, or purchase goods and services on the go – while utilizing new methods of authentication to ensure people's data is protected."

Consequently, Crabtree predicts a rise in biometric authentication and chatbot technology, built on the latest artificial intelligence, to deliver a faster, more secure customer experience.

Security remains one of the top concerns facing the financial services industry; the recent Unisys Security Index found that more Americans are seriously concerned about identity theft and bankcard fraud than they are about their own personal safety. In this capacity, biometric technology offers immense potential to ensure that even if your card is stolen, authentication technology can detect fraudulent activity in near-real time.  

Unisys predicts that in the coming year, biometric authentication will go mainstream – and beyond the more traditionally understood tools like fingerprint or even the iris scan technology available on some smartphones. Specifically, advancements in behavioral biometrics allow banks to analyze smartphone or tablet usage to form uniquely identifiable behavioral profiles across several areas, including how much force users use on the screen, the angles they swipe and even their typing speed. When combined with other authentication methods, like fingerprint or iris scan, this type of behavioral biometric profile can be a major difference-maker in ensuring that the person doing the transaction is authorized to do so.

"We expect continued high-profile cyberattacks will keep security concerns top-of-mind," said Crabtree. "Those banks that take additional steps to protect their customers' data, like tapping into behavioral biometrics for their customers, while also embracing new tools like identity-based microsegmentation to encrypt and protect their networks on the back-end, will be well-positioned for success in the year ahead."