Collaboration with Mastercard seeks to overcome biometric challenges14 June 2017
Official Fellow Ivan Martinovic was one of the authors of a paper that looks at how biometrics can make mobile technology more secure. Biometrics, including fingerprints, iris scans and ‘selfies’, are a simple and effective way of confirming the user’s identity; however only 36% of relevant banking executives feel they have adequate experience to implement this new technology.
The report, Mobile Biometrics in Financial Services: A Five Factor Framework, provides bank executives with guidelines to help them overcome this knowledge gap, breaking the topic down into five factors: Performance, Usability, Interoperability, Security and Privacy. Some of these are more visible to the consumer than others, but it is important to ensure that all are covered in order to protect against threats.
Ivan Martinovic commented, “Biometric authentication has a lot of potential, but it is important to address the objectives of each of the Five Factors when designing solutions. Working together with Mastercard enables us to solve realistic threats to the industry with the best technical and scientific ideas. Users will need consistency, quality and assured security for this technology to thrive.”
Ajay Bhalla, Mastercard’s President, Global Enterprise Risk & Security, said, “Effective mobile biometrics melt into the broader experience of consumer-centric financial services, giving people the power to instantly access their financial information or make a payment. They’re driving the trend toward a password-free future where digital identity is all about who we are, not what we remember… This framework is fundamental to accelerating the deployment of mobile biometrics for consumers and industry alike, but collaboration is key. We can only achieve this if industry, academia, governments and technology vendors understand and contribute to the evolution of the Five Factor Framework for mobile biometrics.”