Assessing the impact of advanced sensors and behavioural biometric authentication technology on the reach of financial institutions

Abstract

This paper demonstrates how the development of advanced sensor technology has opened the door for user authentication that measures human behavioural patterns to verify individual users. It details how this biometric, known as the behavioural biometric, focuses not on what a user is doing, but how they are doing it. It will introduce readers to the concept of continuous authentication – a means of analysing the behaviour of a person who is using a device naturally – which creates a stronger security solution, and can do so without adding extra steps for the user. While acknowledging the prevalence of other biometric solutions currently adopted by financial institutions, the author believes that the latest behavioural technology can provide said institutions with the security and user friendliness that is demanded of them by customers. This paper also explores how biometrics can democratise financial services, providing customers with more facilities and adding extra value to transactions. Finally, this paper considers how the rise of malicious bots and malware calls for the adoption of greater risk-based security solutions in banking.