Sophisticated fraudulent attacks are costing banks billions each year
Increasing instances of money laundering, fraud, and identity thefts have propelled Financial Services providers to defend and fortify security, safeguard customer privacy and be compliant to industry security benchmarks. With more emphasis on the ease of mobility of services, the need to protect information and assets has driven the organizations in this sector to adopt Biometrics as their chosen defensive mechanism against inherent threats. In a business where there is a thin line between keeping customers happy and facing the monstrosity of legal suits, different modalities of biometrics (face/iris/voice/fingerprints), especially solutions involving voice and iris have become the most adopted form of identification and authentication.