The banking industry is bubbling with fintech innovations. As payment and transaction solutions are being revamped at an incredible speed, new apps are sprouting, priding themselves in high-tech security levels. One of the latest developments for banking solutions, boasting cutting-edge biometric authentication features, has been crafted by Kony in partnership with Daon.
Digital giants focusing on biometric authentication for omnichannel apps
Kony is a cloud-based enterprise mobility solutions company, delivering an array of mobile apps for various devices and systems, solutions as well as consulting services. With leading mobility experts at the heart of its team, Kony has over 70 Fortune500 companies and international brands as its customers. It is famous for its highly efficient operating systems and variety of deployment options. Experts of Kony are viewed as an extension of the clients’ strategic teams.
Kony has perfectly grasped that current business is happening across multiple devices. Consumers and employees have several devices and expect applications to work instantly on an omnichannel level. Such high-end apps irrefutably need to be paired with cutting-edge security features. The latest and most secure features are, of course, biometrics authentication.
One of the world leaders in the biometrics industry is Daon. The company was set up with the clear goal of creating biometric software allowing people to authenticate themselves physically or online in all security and in a flexible and convenient manner. It keeps innovating and developing identity assurance systems like voice recognition, fingerprints, facial recognition, retina scans as well as vein patterns for identification. Governments, top global financial institutions as well as commercial enterprises have recourse to Daon’s services. The company is currently managing hundreds of millions of biometric identities around the planet.
Developing highly secure futuristic banking apps
Together, Kony and Daon are targeting banks and financial institutions with innovative omnichannel apps bearing the state-of-the-art security features. Kony’s digital application platforms are paired with the digital security features of Daon. The capabilities will be merged to offer device cryptography and biometric multifactor authentication leveraging Daon’s IdentityX platform.
As Bill Bodin, Chief Technology Officer at Kony puts it, pairing the security features with the omnichannel apps will eliminate the complexity of authentication algorithms. Conor White, President of Americas for Daon, on his side, sees this partnership as a major step ahead for the whole fintech industry. Developers across multiple business sectors will be provided with the flexibility to integrate multi-factor authentication into their apps.
Biometric authentication is the future of digital security
Remembering and forgetting endless passwords for identification processes is becoming obsolete. If biometric recognition is a familiar process at airports, its use is being extended at an amazing speed to devices. Mobile devices are indeed ramping up security with biometrics and today, it is no surprise to see smartphones, for instance, equipped with avant-garde biometric sensors or scanners. Apple is an example of such a smartphone having even ditched its $350 million worth fingerprint scanner for face biometrics. Currently, many biometrics authentication systems are being proposed not as one standalone feature but with multiple recognition features, such as voice recognition or fingerprint recognition to allow customers choose the way they want to use their apps and devices.
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