Will 2014 finally be the year when biometrics as a tool for positively identifying a member catches on? More experts are saying that is exactly what will happen, and they point to Apple's Touch ID fingerprint reader as a tipping point. Because it is Apple, “People think it is cool, not an annoyance,” said Jay McLaughlin, chief security officer at Q2, the Austin, Texas, financial technology firm.
McLaughlin added, “Biometrics will be the future for financial institutions. Something I am will become part of the login.” That will be another factor along with something I have and something I know, said McLaughlin.
Various biometric modalities are competing for the pole position – there are fingerprints, eye scans, also voice prints.
Lately – and despite Apple's deployment of fingerprints – some are looking to voice, mainly because it's a natural complement of smartphones. “Voice is a natural part of using the phone,” said John Petersen, a founder of ValidSoft, a voice biometrics company. He added that ValidSoft tools are in tests with several financial institutions right now.
Makers of other biometrics of course plump for their tools but know this: the more doubts that are raised about the security of the username-password login, the more the quest for alternatives will intensify and, right now, biometrics seem primed for broader adoption in the coming year.