Fraud prevention is a priority that banks must never forget to foster a safe environment for their consumers. Technological development brings advantages and risks that bank executives, employees, and stakeholders need to address.
Among the authentication method used by banks nowadays is mobile identity authentication. Some use biometric technologies to ensure one true identity. As a distinct research field, biometrics has a long history that one should learn to understand how far it has gone through to provide state-of-the-art security.
The biometric techs have already existed in the times of Babylonians. Yet, its modernization only began in the 1960s when the government and financial institutions authenticated one’s identity using semi-automated facial recognition manually operated by administrators. Nine years later, the Federal Bureau of Investigation (FBI) backed the development of fingerprint identification to reinforce laws.
The National Institute of Standards Technology (NIST) opened the doors for today’s speech recognition technology by studying the voice command and recognition system in the 1980s. At the same time, scientists also started developing the iris recognition biometric system after discovering the uniqueness of blood vessel patterns in our eyes.
As the National Security Agency (NSA) got established during the 1990s, biometrics science boomed. Despite its flaws, the creation of the face recognition algorithm is still a breakthrough worth noting as it led to the deeper exploration of real-time recognition biometric, courtesy of the Defense Advanced Research Products Agency (DARPA) and the Department of Defense (DoD) partnership.
Further developments in biometrics occurred in the 2000s. Biometric techs became available not only for commercial purposes but large-scale events also. Biometrics Systems Engineering and Computer Engineering is the newest addition to West Virginia University’s Bachelor’s degree program list. Aside from that, the International Organization for Standardization (ISO) opened for international collaboration to develop generic biometrics.
At present, studies about integrating artificial intelligence (AI) into biometric continue to offer a seamless authentication process for users transacting online.
Visit Login ID’s website to gain more info about the history of biometrics.