According to a research conducted by Goode Intelligence, there will be over one billion users accessing banking services through biometric systems by 2017. By the end of 2015, there will be approximately 450 million bank customers using biometrics in various bank scenarios including withdrawing cash from ATMs, proving identity when telephone banking, and authenticating into their mobile bank app using fingerprint.
The report also highlights major trends shaping the industry, including the rise of mobile and multi-modal mobile-based biometric authentication, tighter integration with fraud detection and fraud management solutions including adoption of behavioral biometrics/analytics, and different speeds of adoption and regional differences.
The study shows that mobile will drive the market in the EU, North America and China, banks seeking to use a mature national ID (NID) system that supports biometrics for identification, industry regulation beginning to specifically reference biometrics as part of its guidance on two and multifactor authentication, and biometric cards being used to provide mobile banking services in developed world scenarios and linked to National ID (NID) schemes where supported.
The adoption of biometrics for ATM access will increase in regions where it has already been deployed. It will also be deployed in other regions where the PIN remains the main authentication method, including using biometric capability of a smartphone to provide out-of-band biometric authentication (OOBBA) when accessing ATMs.
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