Touch ID Biometrics and KBA Work In Perfect Harmony

There have been a
lot of rumors around the new iPhone feature, a fingerprint scanner, related to
identity theft and fraud. This technology is supposed to improve security for
the user, but its still under speculation by many. The fingerprint sensor
reads the users fingerprint in order to unlock and allow access to the phone.

technology is exciting on all fronts, from security to electronics, but its
nothing new. Biometrics is defined as the
measurement and analysis of unique physical or behavioral characteristics (such
as fingerprint and voice patterns) especially as a means of verifying personal
technology is not limited to fingerprint and voice recognition.
uses of biometrics are abundant and can be very beneficial.

then the question is, are biometrics enough to verify and secure an identity?
While its convenient to unlock your phone with your fingerprint, how effective
is it within larger applications? Were sure consumers wouldnt feel secure
registering a new online bank account or credit card with just their
fingerprint. There is also concern about whether or not biometric technology
alone can give organizations the confidence that their customers need to
partner with them.

We never recommend
using just one technology in a
fraud prevention strategy. The key to success is layered security. When it comes to biometrics, we all want
to know: How is the fingerprint validated? What happens when a copied fingerprint
is used? What happens if the database of fingerprints gets hacked?

With passwords, you
can easily and quickly change them if an account is compromised. What about
your fingerprint? You most certainly cant get a new one. Identity verification
and biometrics can work together by verifying initial verification and
authentication. By utilizing the ability of
dynamic knowledge based authentication (KBA) and out of wallet questions, you can ensure
the identity of that fingerprint is who its supposed to be and not a fraudster.
This process of layered security leads to faster approvals, as well as a more
secure customer experience thats proven to prevent fraud.

The use of biometrics alone can be dangerous and will not be able to identify an individual
alone. Implement robust
identity verification and KBA to sustain and enhance your fraud
prevention strategy.

[Contributed by EVS

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