Many people encounter biometric technology almost anywhere and at any time in the modern era. When a person uses a fingerprint scan to unlock their smartphone or takes a selfie to confirm their claimed identity while completing an online transaction – biometric technology is there. Biometrics includes measuring an individual’s inherent traits, like Identity Verification.
Identity verification plays a significant role in how financial institutions manage to protect their clients’ funds and personal information. With the evolving cybercrime landscape, it has become even more crucial for financial firms to invest in verification solutions to safeguard their data and protect their clients from fraud and identity theft. Financial firms deploy
Ensuring the security of the information and funds entrusted to financial firms positively affects their ability to maintain consumer trust and comply with regulations. Failure to implement necessary security measures results in costly consequences. Fraud has long been a problem in the financial sector as criminals are often motivated by monetary gain obtained through illegal
