A Walkthrough of Biometric Recognition Use Cases in Modern-Day Businesses
Biometric recognition solutions are streamlining industries’ operations such as traveling, maintaining attendance, safeguarding financial records, and much more.
The process of digitization is never-ending which is why businesses are in a continuous state of evolution. It is reshaping the ways industries used to function. They are offering innovative services like digital banking, online shopping, and e-gaming. Similarly, cybercriminals are also seen making efforts to exploit these operations which are also directing regulatory scrutiny.
Due to toughening corporate policies, protection laws, and monitoring by regulatory bodies, industries need to develop efficient biometric recognition mechanisms. Previously perceived as science fiction, this AI-powered IDV solution has now become a common security and identification tool. The blog covers prominent use cases of biometric screening technology.
Prominent Applications of Biometric Identity Verification Services
The advent of the Covid pandemic poured various impacts on global industries and markets. It is changing the landscape of institutions by disrupting physical operations and shifting them to online services. Simultaneously, the need for touchless biometric authentication methods is also increasing. Customers are now more concerned regarding their privacy, therefore industries need to bring in efficient onboarding and identity verification solutions.
Keeping in view the spike in customers’ demands, institutions are employing digital biometric user authentication. Due to its rapid adoption, the global market value of this industry is expected to cross $83 billion by 2027. Solutions like facial verification, iris-retina scans, voice recognition, and liveness detection make biometric recognition systems a must-have for every institution.
From healthcare to banks and now the workplace's payroll system, this technology is seen taking over every sphere. More details regarding the approach and use cases of biometric technology are in the next section.
Airport Security and Seamless Travel
Travelling activities were paused to restrict the spread of deadly COVID-19 virus. However, as the coronavirus's uncertain situation is now getting under control, airlines are resuming their usual operations. Moreover, old and traditional ways of performing identification of passengers prior to their boarding are somewhat hazardous. This mandates the travel sector to employ digitally advanced biometric ID verification solutions.
AI-powered services minimise the need for manual interpretation, ultimately decreasing the time taken for passengers’ verification. Similarly, the use of biometric passports is further streamlining the identification process as well as enhancing travel experience of passengers.
Border Control Systems
Law enforcement agencies are using consent biometric technology for border control. The AI-powered IDV tools minimise the need for manual efforts and help governments readily identify offenders travelling across regions. Biometric security checks also help regulatory agencies to prevent passengers with fake IDs from travelling across borders. With its technologically advanced solutions, AI-powered IDV services provide an additional layer to traveller's identification procedures.
Protection of Financial Data
Industries are making efforts by employing biometric recognition to combat identity fraud, secure, confidential data, reduce operational costs, and improve overall user experience. Banks and other financial firms usually experience cybercriminal attempts, as they involve a huge flow of cash, these institutions are becoming the main attraction for money launderers. Criminals use fake documents, addresses, and other victims’ sensitive information to either open accounts or avail financial benefits by bypassing consent biometric verification.
Biometric security checks are becoming a liability for banks and other firms in order to restrict unauthorised access. This way, they can safeguard the customers’ confidential data. Biometric identity solutions verify users by scanning distinct biological and behavioural features. These involve facial features, voice patterns, handwriting, movements, gestures, and behaviours.
Businesses need a more reliable alternative to manual ways of verification such as usernames, passwords, and OTPs. Therefore, enterprises can better secure their vaults or backups and databases by using biometric authentication technology. It ensures maximum security by identifying employees on the basis of their facial features and fingerprints majorly. As these features are impossible to replicate, enterprises can mitigate the chances of fraudsters accessing their databases and other confidential records.
Biometric screening technology is taking enterprise solutions to the next level by securing all information, especially regarding payments onto the blockchain platform. It further provides easy access to all concerned officials so that they can keep records of transactions as well as prevent the details from cyber-attacks.
Attendance and Payroll
Similar to the other sectors, workplaces are also upgrading their operations by incorporating biometric security systems to record attendance. Where in the past years, employees were using magnetic strip cards or passwords, they can now simply scan their faces or fingerprints. This way, biometric recognition mechanisms further provide the following benefits to workplaces:
- Efficient tracking of employees’ attendance
- Eliminates the need for resetting passwords or re-issuing ID cards
- Ensures authorised access to confidential records
In order to enhance operations and uplift customer experience, industries are incorporating biometric recognition solutions. With services like facial verification, fingerprint analysis, voice recognition, and iris/retina scans, the AI-powered tools add extra layers of security while involving less operational costs. It further minimises the need for manual efforts. Hence, biometric security solutions make the databases, log-ins, and confidential records tamper-proof.