Biometrics

Anticipating demand from internet of things and advanced smartphones, Fingerprint Cards AB has launched a new multi-biometric technology platform that combines iris screening with facial recognition.

None of the 10 financial institutions in the Bank of Thailand's electronic know your customer verification test have completed the trial, raising a red flag for the myriad biometric risk projects underway.

NatWest is expanding its test of cards that use biometric fingerprints to authorize transactions, citing expanded use cases for contactless payments in the U.K.

With passive biometrics, customers are identified by their behavior online and not by static data such as passwords or one-time codes, says NuData Security's Justin Fox.

Hawaii State FCU has a dedicated branch for testing new products. It's a format that other institutions could follow.

Consumers and banks are both concerned about security tied to contactless payments, says Fingerprints' Lina Andolf-Orup.

Even though security vendors and payments providers are telling merchants they are ready to provide compliance for PSD2 on Sept. 14, a significant challenge remains in the learning curve and technology needs for merchants.

Amazon is reportedly testing technology that allows contactless payments via a hand gesture, applying technology that would provide valuable insight to fuel other initiatives such as Amazon Go.

In a double-teamed effort to showcase new technologies, Finnish telecom operator Telia demonstrated the use of 5G wireless service in an open-to-the-public face payments pilot with OP Bank.

Banks, for the most part, have not advanced their core digital technologies as quickly as payments networks and disruptors ahead of the original PSD2 deadline. And the European Banking Authority has also cited the payments networks for not advancing the 3D Secure 2.0 online authentication model far enough to comply with PSD2 provisions.