Independent Banker - February 2023 - 37

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" If ... many people are willing to ditch the
username/password in favor of something
else, that's an encouraging sign for banks. "
-DAVID MATTEI, AITE-NOVARICA GROUP
Agility in Volatility
- Innovation
in a Changing
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Featuring:
Mike Haedrich
Sr. Product Manager
Finastra
Milind Pathak
Sr. Director,
Product Mgmt
Finastra
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of something else, " says Mattei, " that's
an encouraging sign for banks. "
Which type of biometrics is right
for your bank?
When it comes to common biometrics,
the big three are fingerprints, face
and iris, followed by speaker or
voice identification, palm prints and
signatures, says Nalini Ratha, empire
innovation professor at University at
Buffalo-SUNY's school of engineering
and applied science.
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Each form has strengths and
weaknesses. Voice recognition, for
instance, is increasingly important for
banks hoping to verify a customer's
identity when they contact a call
center, but it's imperfect. " Speech
can be corrupted by ambient noises, "
Ratha says. " If I'm at an airport and
loud announcements keep coming, it's
challenging. "
It's a similar situation for facial
recognition. According to Jain,
biometric readers are " very sensitive
to [background] illumination " and
to the way that a user presents their
face. " If a person is wearing a cap
or sunglasses-or in the wintertime
has a hood or mask covering part of
the face-then face recognition could
become problematic, " he explains.
Even with built-in limitations,
biometric technologies have
improved dramatically. In the past,
for example, the appearance of facial
hair or eyeglasses could throw off
face recognition technology. Today,
says Mattei, scanners digitize various
aspects of the face that do not change,
such as the distance between an
individual's pupils or between the tip
of the nose and the upper lip. In other
words, he says, machines are " looking
at key points of the face itself and
drawing information out of that. "
Of all biometric authentication
methods examined within an
Aite-Novarica survey, fingerprints
scored highest in terms of customer
preferences, with 80% of consumers
viewing them as " effective or very
effective, " says Mattei. One-time
passcodes took second at 76%,
followed by facial recognition with
70%. Eye biometrics and two-way text
message, both at 68%, tied for fourth.
Bank biometrics in practice
Just as with passwords, biometric
authentication should be " combined
with other things to make it secure, "
says Joel Williquette, senior vice
president, operation risk policy,
at ICBA.
In this regard, cell phones
have been an enormous boon
for biometrics, because they
automatically serve as a form of
multifactor authentication. A user
must access a specific mobile device,
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Independent Banker - February 2023

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