The
technology of biometrics is playing effective role as this technology is
considered highly effective and efficient because of the unique process.
Moreover, in the recent trend the financial institutions across the globe is
adopting this technology for authenticate customers accessing their facilities
more effectively and significantly. As the cases of financial crime and frauds
is increasing day by day and this technology in banking and financial services
facilitate numerous offers to the solution by identifying the customers through
their fingerprint scanning or retina scanning as these two things never be same
or matched with another person. According to the report analysis, ’Remittance
Market Research Reports’ states
that numerous forms such as retina scanning, fingerprint scanning, facial
expression and several others of this technology totally transform this
industry and could further enlarge the nature of this market whereas, the form
of fingerprint scanning is presently leading the industry. Moreover, many of
the key players of this technology are also investing in the voice recognition
that could turned up the market of remittance across the globe.
In
the ancient era, the technology of biometrics has been used for law enforcement
agencies and identification in government. In addition, the Biometrics payment
is a point of sale technology that employ biometric verification to identify
the customers and authorize the deduction of funds from a bank account.
Moreover, in the present era with the more development and opportunities the
researchers has observed a simultaneous increase in both biometrics and
remittance industry and concurrently their combination into one solitary
technology has been extraordinary especially with the advancement of biometrics
within smart devices and smart cards that serve a more assured and efficient
method of transferring monetary measures. According to the report analysis, ‘Market
Research Reports For Remittance’
states that in United States, the biometrics payment has gained popularity more
significantly as their number of foreign workers are increasing by the time and
it is observed that millions of customers had enrolled in their biometric
services and that Pay By Touch had identified approximately USD 8.0 billion in
transactions as this technology include so many application such as speedy
transaction, enhanced security for the end user, less expensive as compared to
standard debit or charge card fees and several others. Moreover, in this
technology there is no need to recollect or remember complex PINs or password,
users require smiling at the camera, tapping their finger or saying few words
which automatically identify the settlement.
In
New Zealand, the Mobilis Networks Limited had introduced finger print
identification for the cross border payments through smart phones moreover, in
India the ICICI bank has also inaugurated voice based cross border payments on
its Money2India employment. Moreover, in London Azimo is an online cross border
payment setup which attributes biometric identification with the chat bots
application which enable easy and quick transfer of money. Furthermore, there
are various key players which are working effectively and accomplish the growth
mobility of both remittance and biometrics industry. Therefore, in the coming
year it is expected that the remittance industry will grow more significantly
with the effective usage of biometrics authentication in the financial
institutions over the decades.
For more information, click on the link below:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
No comments:
Post a Comment