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Nowadays, a most widely used identity verification system is the is two-factor authentication or two-factor verification (2FA), which uses one-time access codes (OTP) sent by SMS (short message service) to authenticate banking and ecommerce transactions.

From telecommuting to entertainment, including healthcare, banking and education services, among other, life has become digital, and secure identity authentication has risen as a priority for organizations and users. IAM can help, but organizations must get their implementations right. Here are some IAM trends we have identified for 2023.

Biometric technology identity authentication is rapidly becoming more ubiquitous in our daily life for a variety of applications, from border clearance and immigration to almost every service across industries. However, there are still some misbeliefs about the use of biometric technology, its deployment and uses. Here are the most common myths about biometric authentication busted.

Today, biometrics is the most reliable method of identity authentication. It is based on the measurement and analysis of each person’s unique individual physical characteristics that cannot be easily hacked.

Biometrics is becoming the technology of choice for the authentic identification of persons in various industries. The main reason for this is that it uses biological patterns, unique to each person, to ensure that you are who you say you are.

Is the company able to comply with the legal requirements linked to the use of biometrics? As the implementation of biometrics gains speed, regulation on data protection worldwide is following suit. Companies and institutions adopting biometrics must be very careful to avoid lawsuits.

Biometrics can help event organizers in many ways, from reducing queuing time to increasing security, preventing fraud, helping the environment, or improving the attendees’ overall experience.

By adopting biometric identification systems, subscription model businesses such as content platforms like Netflix, or intermediation platforms like Airbnb, can truly ensure users are who they say they are avoiding identity fraud or password sharing.

With the steady rise of biometrics our bodies are becoming the future of payment security. Nowadays it is enough with just a quick smile or a wave of the hand, as set in the recently launched Biometric Checkout Program by Mastercard.

From 2020 to now, digital onboarding has become more frequent for both online and offline banking. Still, implementation, cost, UX and privacy real or imaginary challenges are holding back a wider implementation. B-FY’s solution successfully addresses these challenges.

As the higher education industry is undergoing a major transformation to meet the demands of the new generations of students born in a technological environment, cyber attackers have found a new target. Meanwhile, biometric technology is proving to be a valuable solution to secure students’ data and improve the user’s experience both in virtual and physical campuses.

The biometric edge for the educational industry Following the outbreak of COVID-19, the educational sector has seen drastic changes. Online

value of 74.08 billion U.S. dollars (68.6 billion euros) by the end of 2028. Why? As the industry shifts from paper to electronic records, it needs more secure and reliable form of authentication: biometric ID.

The healthcare industry is one of the most sensitive in terms of security related to patient data. It is also one of the most attacked by cybercriminals according to various reports as we will discuss later in this article.

Traditional security systems based in knowledge authentication are proving to be inefficient against cybercrime, thus, many enterprises are turning to biometric verification. Here are ten reasons why.

We have been hearing about biometrics for quite some time, but as cybercrime figures soar, it seems biometrics’ time to become the best solution to fight cyber-fraud has finally come.