The Rise of Biometric Security in Banking
Inspired by use in the tech industry, financial firms are embracing biometrics as a way of…
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Cloud computing provides its users with on demand access to computing power without the need for in house infrastructure. This has already been widely implemented in financial services, an industry with high and variable demands for computing power, making it especially suited for adoption. .
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Artificial intelligence (AI) involves the use of sophisticated computing techniques to perform tasks in a ‘rational’ way – not necessarily mimicking humans but using a systematic method to solve tasks that usually require human intelligence to complete. This is valuable to financial institutions because it can bring about great automation, in menial tasks, whilst also potentially leading to greater performance and decision making than people.
Biometric security is the use of individually unique physical features for identification; common examples including fingerprint patterns, iris shape, voice verification, etc. Such technology is gaining traction in finance as a way of smoothing the customer experience, hence providing for greater ease of use in banking services whilst also improving on security
Distributed ledger technology (DLT) – its most notable example being blockchain – is the underlying process through which a ledger can be securely shared and updated across a decentralised network. This technology facilitates peer-to-peer (P2P) exchanges of assets, documents or information – this involves a direct exchange between two parties without any form of intermediation; in effect, the transfer occurs similarly to a cash transaction.
Inspired by use in the tech industry, financial firms are embracing biometrics as a way of…
Driven by rapid innovation in the tech sector, financial services have embraced cloud computing, aiming to…
The reliance of the financial industry on both customer volume and complex decision-making makes it a…
At its core, decentralised finance (DeFi) is the use of a peer-to-peer (P2P) network through which…