Standard Bank is enhancing customer verification by collaborating with iiDENTIFii and iProov to implement biometric identity verification. This strategic shift aims to combat rising fraud threats, particularly from Generative AI and deepfakes, by ensuring that the clients are who they claim to be. These advancements reflect a broader trend in the financial sector towards more…
Juniper Research projects that global spending on digital identity verification will rise to $26 billion by 2029, a 74% increase. Key drivers include behavioral biometrics and regulatory changes such as eIDAS in the EU, which mandate interoperable digital identity systems. The report emphasizes the need for a multi-technology approach to create user-friendly, secure verification processes…
Biometric technologies are rapidly modernizing identity verification in the public and private sectors. By leveraging unique traits for authentication, they provide enhanced security while addressing challenges like privacy and data protection. Innovations, such as ‘biometrics on the move,’ improve user experience. As these systems evolve, adhering to best practices and regulations is essential for protecting…
