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The Problem Biometric Authentication Solves for Financial Services

There's no denying that the frequency and impact of data breaches are on the rise. Every year the record for the number of individuals affected by a breach rises, with 2017 surpassing 2016 quickly. There were more than 5,000 confirmed data breaches in 2017 with 7.8 billion records compromised, and that's just what we know about. This steady increase in data breaches clearly demonstrates how antiquated existing identification security is. Passwords and tokens simply aren't working.
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Cybersecurity in 2018: A roundup of predictions

As in previous years, Tech Pro Research has collated a large number of turn-of-the-year predictions in order to get an overview of the cybersecurity landscape as 2018 gets underway. All of these predictions were made before the biggest security story in years broke, in the first week of January - the Spectre and Meltdown processor vulnerabilities, caused by exploitable flaws in modern CPU design.
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Banking the Unbanked

Nearly 3.5B people worldwide are unable to access banking services. To date, efforts at solving this problem have been built on traditional banking models, often requiring physical access to branches and onerous verification of identity.
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The Problem with Online Anonymity

Who’s creating the content you view online? When your friends are sharing videos on Facebook or you hop onto YouTube, that content has been passed around, syndicated, shared, and otherwise “filtered” through several sources. But there’s no system for truly identifying the origin of that content. And video isn’t the only problem. Across Twitter, Instagram, Tumblr, Snapchat, et. al., words and photos can be shared to millions of people across the globe, with little to no curation. This invites abuse, and we’ve already seen just how far that abuse can go.
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Would you be willing to give Facebook your biometrics if it meant the death of trolls?

Authenticity, partly by design, has never been a huge part of social media. I don’t mean the glamourised lives of fake Instagram millionaires, but in a more humdrum, prosaic way: you’re not that funny, good looking or popular in real life as you appear on Facebook or Instagram. Nobody is. “On the internet, nobody knows you’re a dog”, as the old New Yorker cartoon made clear.
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Biometrics Decrypted Report

Biometrics in payment is here and it is fast becoming an integral facet of the consumer experience. When given a choice, we consumers, are picking biometrics and the reason why is pretty simple. The speed and ease of use that biometrics enables provides for a much more enhanced checkout experience both digitally and physically.
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Concerned about GDPR compliance? Look to biometrics

Now is the time to get educated, and executives should look at the GDPR as an opportunity to strengthen their financial institutions. With a little more than six months until it goes into effect, the General Data Protection Regulation (GDPR) is on the minds of organisations across the world.
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Biometrics for the Unbanked

The number of mobile phone users in the world is likely to surpass 5 billion within the next year. As this number grows, it’s no wonder why most banks have their own mobile app or at least a way for their customers to access finances on-the-go. Yet 3.5 billion people worldwide are excluded from the financial system.
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Highlights from WIRED security: Post-Show Roundup

The brightest minds gathered at the Wired Security conference to share their ideas how to protect against threats online in the future.
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Biometric security can boost cryptocurrency’s reputation

There’s a reason digital currencies like bitcoin have developed a nefarious reputation. Built on blockchain technology, activities are transparent but completely anonymous. Despite these concerns, banks and financial institutions are taking a closer look at the real possibilities of digital currencies, but they must first review and strengthen the core of their security and authentication measures. One reason for the lack of liquidity is the extent to which a market allows assets to be bought and sold at stable prices, and mainstream resistance is the high risk of identity theft.
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