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Rise of biometrics in business

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The need for ever-improving customer service, higher levels of speed and efficiency, as well as the limitless financial and reputational risks that go along with online financial services, banks, insurers and other financial service providers are embracing biometrics like never before.

Biometrics may at the outset seem like a space-age, technology driven discipline, but using unique physical characteristics as identifying features is nothing new. Artefacts discovered in ancient Babylon and China have been uncovered bearing handprints and fingerprints that scholars believe were used for everything from business to criminal prosecution. Technology, and a greater understanding of what makes humans unique on a biological and behavioural level, have accelerated and expanded the biometric field to practically limitless applications in the modern business landscape.

From the fingerprint scanners that we use to get into the office every day, to the nifty facial recognition features being used to unlock smartphones, biometrics has been sneaking stealthily into our lives for years. But in an age where so much of our daily lives is carried out remotely and online, threats of cybercrime and fraud are driving a new wave of biometric controls that are being layered over our personal and professional online functions, with surprising urgency and a vast array of innovative techniques.

It’s safe to say that digital banking has surpassed real-world banking in much of the developed world. Thanks to the need for ever-improving customer service, ever higher levels of speed and efficiency, as well as the limitless financial and reputational risks that go along with online financial services, banks, insurers and other financial service providers are embracing biometrics like never before to gain the competitive edge over their peers.

“In the financial services sector in particular, we are bound to see more and more biometrics being made use of in unobtrusive and creative ways over the next few years,” said Davina Myburgh, Director of Core Credit for TransUnion Africa. “We live in a mobile age, and people are understandably less and less eager to go into their bank branch unnecessarily. And since customer service and digital security are two of the biggest opportunities for both consumer and commercial banks to differentiate themselves from the competition, the race is on to incorporate biometrics in meaningful and original ways.”

From established, old-world techniques such as fingerprint recognition, to more advanced applications like voice recognition and iris scanning, the reliability of these technologies is growing in leaps and bounds – but it’s not quite foolproof. Not yet, anyway. Myburgh explained:

“A burn or scar could make fingerprint identification difficult, while a cold could affect our ability to use voice identification. Even the unique patterns of our irises have been known to change over time. The real power of biometrics is not in its ability to completely replace the identifiers we rely on today, but to add an extra layer of security and convenience to transactions without affecting speed, efficiency, or the customer experience.”

Balancing this trade-off between security and user-experience will divide the winners from the losers in the coming years, and biometric measures are helping organisations around the world to add new levels of excellence to both. As we continue to see ever-more creative developments in this field, it’s becoming clear that biometric technologies are no longer a gimmick, but are part and parcel of the merge we are seeing between the real world and the digital, contributing to a more seamless transition for both organisations and individual consumers.

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Now download a bank account

Absa has introduced an end-to-end account opening for new customers, through the Absa Banking App, which can be downloaded from the Android and Apple app stores. This follows the launch of the world first ChatBanking on WhatsApp service.

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This “download your account” feature enables new customers to Absa, to open a Cheque account, order their card and start transacting on the Absa Banking App, all within minutes, from anywhere and at any time, by downloading it from the App stores.

“Overall, this new capability is not only expected to enhance the customer’s digital experience, but we expect to leverage this in our branches, bringing digital experiences to the branch environment and making it easier for our customers to join and bank with us regardless of where they may be,” says Aupa Monyatsi, Managing Executive for Virtual Channels at Absa Retail & Business Banking.

“With this innovation comes the need to ensure that the security of our customers is at the heart of our digital experience, this is why the digital onboarding experience for this feature includes a high-quality facial matching check with the Department of Home Affairs to verify the customer’s identity, ensuring that we have the most up to date information of our clients. Security is supremely important for us.”

The new version of the Absa Banking App is now available in the Apple and Android App stores, and anyone with a South African ID can become an Absa customer, by following these simple steps:

  1. Download the Absa App
  2. Choose the account you would like to open
  3. Tell us who you are
  4. To keep you safe, we will verify your cell phone number
  5. Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
  6. Tell us where you live
  7. Let us know what you do for a living and your income
  8. Click Apply.

 

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How we use phones to avoid human contact

A recent study by Kaspersky Lab has found that 75% of people pick up their connected device to avoid conversing with another human being.

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Connected devices are becoming essential to keeping people in contact with each other, but for many they are also a much-needed comfort blanket in a variety of social situations when they do not want to interact with others. A recent survey from Kaspersky Lab has confirmed this trend in behaviour after three-quarters of people (75%) admitted they use a device to pretend to be busy when they don’t want to talk to someone else, showing the importance of keeping connected devices protected under all circumstances. 

Imagine you’ve arrived at a bar and you’re waiting for your date. The bar is busy, and people are chatting all around you. What do you do now? Strike up a conversation with someone you don’t know? Grab your phone from your pocket or handbag until your date arrives to keep yourself busy? Why talk to humans or even make eye-contact with someone else when you can stare at your connected device instead?

The truth is, our use of devices is making it much easier to avoid small talk or even be polite to those around us, and new Kaspersky Lab research has found that 72% of people use one when they do not know what to do in a social situation. They are also the ‘go-to’ distraction for people even when they aren’t trying to look busy or avoid someone’s eye. 46% of people admit to using a device just to kill time every day and 44% use it as a daily distraction.

In addition to just being a distraction, devices are also a lifeline to those who would rather not talk directly to another person in day-to-day situations, to complete essential tasks. In fact, nearly a third (31%) of people would prefer to carry out tasks such as ordering a taxi or finding directions to where they need to go via a website and an app, because they find it an easier experience than speaking with another person.

Whether they are helping us avoid direct contact or filling a void in our daily lives, our constant reliance on devices has become a cause for panic when they become unusable. A third (34%) of people worry that they will not be able to entertain themselves if they cannot access a connected device. 12% are even concerned that they won’t be able to pretend to be busy if their device is out of action.

Dmitry Aleshin, VP for Product Marketing, Kaspersky Lab said, “The reliance on connected devices is impacting us in more ways than we could have ever expected. There is no doubt that being connected gives us the freedom to make modern life easier, but devices are also vital to help people get through different and difficult social situations. No matter what your ‘connection crutch’ is, it is essential to make sure your device is online and available when you need it most.”

To ensure your device lifeline is always there and in top health – no matter what the reason or situation – Kaspersky Security Cloud keeps your connection safe and secure:

·         I want to use my device while waiting for a friend – is it secure to access the bar’s Wi-Fi?

With Kaspersky Security Cloud, devices are protected against network threats, even if the user needs to use insecure public Wi-Fi hotspots. This is done through transferring data via an encrypted channel to ensure personal data safety, so users’ devices are protected on any connection.

·         Oh no! I’m bored but my phone’s battery is getting low – what am I going to do?

Users can track their battery level thanks to a countdown of how many minutes are left until their device shuts down in the Kaspersky Security Cloud interface. There is also a wide-range of portable power supplies available to keep device batteries charged while on-the-go.

·         I’ve lost my phone! How will I keep myself entertained now?

Should the unthinkable happen and you lose or have your phone stolen, Kaspersky Security Cloud can track and protect your device from data breaches, for complete peace of mind. Remote lock and locate features ensure your device remains secure until you are reunited.

 

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