According to Facebanx’s CEO Matthew Silverstone, cited by online media outlet Source Wire, customers will be able to log in into their account, by pointing a devices’ camera and taking a selfie and then repeating out loud four randomly generated numbers.
The technology, which combines two different biometrics, will help to prevent ID theft and account takeovers from taking place. In addition, the new Facebanx service can help banks meet demanding compliance requirements and provide them with a safeguard that customers are in fact who they say they are.
One of the first businesses to trial the software is a global telecom company. Other trials due later in 2014 include multi-national banks who are seeking to improve security.
Facebanx is also a member of the FIDO Alliance, an organisation of over 100 biometric and hi-tech companies including PayPal, Google and MasterCard, with the intention of revolutionizing online authentication with the first standards-based and open specification for overcoming password dependency. This will enable privacy enhancing online authentication that is both more secure and easier to use.
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