Touch ID Biometrics and KBA Work In Perfect Harmony

There have been a lot of rumors around the new iPhone feature, a fingerprint scanner, related to identity theft and fraud. This technology is supposed to improve security for the user, but its still under speculation by many. The fingerprint sensor reads the users fingerprint in order to unlock and allow access to the phone.

Biometric technology is exciting on all fronts, from security to electronics, but its nothing new. Biometrics is defined as the measurement and analysis of unique physical or behavioral characteristics (such as fingerprint and voice patterns) especially as a means of verifying personal identity.Biometric technology is not limited to fingerprint and voice recognition.The uses of biometrics are abundant and can be very beneficial.

So then the question is, are biometrics enough to verify and secure an identity? While its convenient to unlock your phone with your fingerprint, how effective is it within larger applications? Were sure consumers wouldnt feel secure registering a new online bank account or credit card with just their fingerprint. There is also concern about whether or not biometric technology alone can give organizations the confidence that their customers need to partner with them.

We never recommend using just one technology in a fraud prevention strategy. The key to success is layered security. When it comes to biometrics, we all want to know: How is the fingerprint validated? What happens when a copied fingerprint is used? What happens if the database of fingerprints gets hacked?

With passwords, you can easily and quickly change them if an account is compromised. What about your fingerprint? You most certainly cant get a new one. Identity verification and biometrics can work together by verifying initial verification and authentication. By utilizing the ability of dynamic knowledge based authentication (KBA) and out of wallet questions, you can ensure the identity of that fingerprint is who its supposed to be and not a fraudster. This process of layered security leads to faster approvals, as well as a more secure customer experience thats proven to prevent fraud.

The use of biometrics alone can be dangerous and will not be able to identify an individual alone. Implement robust identity verification and KBA to sustain and enhance your fraud prevention strategy.

[Contributed by EVS Marketing]