ThirdFactor | RNCOS reports rising demand for biometrics in financial sector

Tuesday, June 15, 2010

RNCOS, a consulting firm, has announced it expects the financial sector to be a potential driver of biometric technology adoption in the global market.

The reposts stated that biometrics will be used to fight fraud the the industry will see a compound annual growth rate of 18% for the global biometrics market through 2012.

Other projections covered in RNCOS’s report include expectations for the different modes, such as facial recognition, fingerprint recognition, iris recognition, hand geometry and voice recognition. The report also looks at the use of biometrics in different regions, such as North America, Asia-Pacific, Europe, Middle East and Africa and South America.

Among these, North America and Europe have previously led the regions in biometric adoption, but Asia-Pacific and Middle East and Africa are expected to climb closer to the other two.

Precise develops smart cases for mobile devices

Precise Biometrics has developed a new line of “smart cases” for brands of tablets and smart phones to be released in 2012 and 2013. The new smart cases have built-in card reader and fingerprint sensor enabling users to both secure their devices as well as replace various password-based security for protected online sites and applications.

Morpho receives renewal with BPS

Morpho announced that the Botswana Police Service (BPS) has signed an agreement that will see Morpho providing two more years of maintenance and support for the agency’s automated fingerprint identification system (AFIS).

VoiceTrust awarded grant for Pakistan rollout

VoiceTrust announced it has been awarded a grant from the Dutch Ministry of Foreign Affairs and Development Private Sector Investment (PSI) Program to roll out biometric identity systems in Pakistan.

Report: India, the world's fastest growing smart card market

India is emerging as one of the world’s fastest growing smart card markets, according to a new research report by RNCOS. With more than one billion in population and increasing modern application areas, India is anticipated to grow at a compound annual growth rate of approximately 15% during 2011-2014.

Biometric technology is proving beneficial to the developing world

Biometric projects and related systems are giving the lower economic class of citizens in developing countries a better chance to take part in the economic and social growth in countries such as India, according to a Slate article.

Lumidigm partners with Tiger IT for iris and fingerprint solution

Lumidigm announced a partnership with Tiger IT Bangladesh Limited to bring a criminal identity solution that utilizes iris recognition and will also offer fingerprint recognition sensors from Lumidigm.

Subscribe

Print Magazine

Featured Events

Links

Searching …

RNCOS reports rising demand for biometrics in financial sector