In the news, the UK has been crowned the card fraud capital of Europe. Simply put, these findings are the latest in a long line of evidence demonstrating the need for increased security solutions. When it comes to fraud, prevention is always better than a cure and in order to better protect their customers, organisations need to be one step ahead. After all, cyber criminals are more sophisticated, more skilled and more determined than ever before.
With fraud in the UK on the rise, it has never been more important for business leaders to ensure that their customers are provided with a more sophisticated and secure experience. Biometric technology authenticates individuals immediately based on their unique characteristics – taking away the need to remember PINs, passwords and other knowledge-based credentials prone to being exploited by fraudsters and providing peace of mind, as well as security, for end-users.
Whilst there is not and never will be one single silver bullet for fighting fraud, biometrics is a proven, effective authentication factor and fraud tool. Biometric technologies could provide an answer for organisations looking to keep malicious actors at bay and ensure the security of both their customers and employees. For example, voice biometrics are able to leverage hundreds of unique speech characteristics – from pronunciation to size and shape of your nasal passage. Meanwhile behavioural biometrics measure minute details – such as how a person holds their phone or even how they pause once they finish a task. Security systems that incorporate these authentication tools are considerably less susceptible to hacking.