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Market Research Report

Biometrics for Banking and Financial Services

Published by Global Industry Analysts, Inc. Product code 298936
Published Content info 173 Pages
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Biometrics for Banking and Financial Services
Published: May 1, 2019 Content info: 173 Pages
Description

This report analyzes the worldwide markets for Biometrics for Banking and Financial Services in US$ Million. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 45 companies including many key and niche players such as -

AllTrust Networks
CashFlows Europe Limited
Cross Match Technologies, Inc.
Cyber-SIGN, Inc.
Fujitsu Frontech North America, Inc.
Gemalto N.V.

Table of Contents
Product Code: MCP-7867

Table of Contents

1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

  • Study Reliability and Reporting Limitations
  • Data Interpretation & Reporting Level
  • Quantitative Techniques & Analytics
  • Product Definitions and Scope of Study

2. INDUSTRY OVERVIEW

  • Financial Fraud: An Ever Present Threat for Banks and Financial Institutions
  • Major External & Internal Breaches in Financial Services Sector
  • Growing Instances of IT Security Breaches Gives Rise to the Need for Strong Security Solutions
    • Table 1: Number of Data Breaches and Stolen Identities Worldwide for the Years 2014, 2015 and 2016 (includes corresponding Graph/Chart)
    • Table 2: Type of Data Lost Worldwide Due to Data Breaches - Percentage Breakdown of Number of Data Losses for Personal Financial Information, Personal Health Information, Personally Identifiable Information and Others for 2016 (includes corresponding Graph/Chart)
  • Biometrics: Providing Security and Convenience for Financial Transactions
  • Financial Services Firms and Banks Actively Pursue Deployment of Biometrics Solutions
  • Uses of Biometrics Technology in Financial Services Sector
    • Table 3: Global Biometrics Market (2017): Percentage Breakdown of Revenues by End-Use Sector (includes corresponding Graph/Chart)
    • Table 4: Global Biometrics Market by Technology (2017): Percentage Breakdown of Revenues for Facial Scan, Fingerprint/Palm Recognition, Iris Scan, Vein Recognition, and Voice Recognition Technologies (includes corresponding Graph/Chart)
  • Current and Future Analysis
    • Asia-Pacific: Spearheading Adoption of Biometrics in Financial Services Sector
    • Fingerprint Scan Technology Leads, Vein Recognition Gains Traction

3. GROWTH DRIVERS, MARKET TRENDS & ISSUES

  • Unreliability and Vulnerability of Traditional Authentication Methods Fuels Adoption of Biometrics Solutions
  • Biometric Solutions Emerge as Alternatives to PINs at ATMs
  • Biometrics to Deal with Card-Not-Present (CNP) Fraud
  • Banks Focus on Mobile Devices for Convenient and Secure Authentication
  • Biometric Payment Cards: Propelling Growth in the Biometrics Market in BFSI Sector
  • Mobile Payments Drives Adoption of Biometrics Technology
  • Financial Services Industry Needs Collaboration to Leverage Mobile Biometrics
  • Banks Deploy Behavioral Biometrics for Digital Transformation of Banking Activities
  • Biometrics to Enable Banks to Improve Customer Engagement Levels
  • Financial Firms Deploying Biometric Technology for Enhancing Reputation
  • Fingerprint Biometrics: A Widely Used Technology
    • Table 5: Global Fingerprint Biometrics Market (2017): Percentage Breakdown of Revenues by End-Use Sector (includes corresponding Graph/Chart)
  • Silicon-based Fingerprint Sensors to Drive Gains in Non-AFIS Market
  • Voice Biometrics Adoption Continues to Grow in Financial Services Industry
  • Iris Biometrics Poised for Strong Growth
  • Facial Recognition Growing in Popularity
  • Banks: Active Adopters of Biometrics to Ensure Security and Improve Customer Experience
  • Identity Verification: A Major Growth Area for Biometrics Use in Banks
  • Increasing Need for ATMs Worldwide: Opportunity for Biometrics Technology
    • Table 6: Worldwide Installed Base of ATMs in Millions for the Years 2015, 2017, 2019, 2021 and 2023 (includes corresponding Graph/Chart)
  • Banks Pursue Biometrics-based Authentication at ATMs
  • Growing Prominence of Mobile Banking Spurs Opportunities for Biometrics
  • Biometrics-enabled Smartphones Transform Mobile Banking Services
    • Table 7: Global Penetration Rate (In %) of Fingerprint Sensor in Smartphones for Years 2014, 2016, 2018 and 2020 (includes corresponding Graph/Chart)
    • Table 8: Leading Players in the Global Fingerprint-enabled Smartphones Market (2017): Percentage Breakdown of Unit Shipments for Apple, Huawei, Samsung and Others (includes corresponding Graph/Chart)
    • Select Smartphone Models with Fingerprint Recognition Technology
  • Biometrics for Enterprise Mobile Banking Apps
  • Biometrics Enables Unbanked Adults to Access Banking Services
  • Expanding Social Network Footprint of Financial Organizations: Opportunities for Biometrics Technology
  • Multi-Modal Biometrics Approach to Gain Momentum
  • Innovations in Biometrics for Banking and Financial Services Sector - A Review
  • Biometric Fingerprint Reader from SmartMetric
  • Touche Unveils mPOS Tracker for Fingerprint Reader
  • Samsung Integrates 3D Sensing Software into Smartphone
  • Visa Rolls Out Pilot Projects for On-Card Biometric Capability in Contactless Payments
  • MasterCard to Launch Biometric Payment Card in the UK
  • Ingenico Unveils Biometric POS Terminal with Fingerprint Authentication Feature
  • Citi Employs Voice Recognition Technology
  • Combination of Statistical Analysis and Biometric Data in Financial Services
  • Biometric EMV Card with In-built Fingerprint Reader
  • Bank of Russia Launches Unified Biometrics System
  • A Brief Insight into Other Major Developments
  • Customer Acceptance: Not a Market Impediment
  • Access Control: A Potential Application Area

4. PRODUCT OVERVIEW

  • Biometrics: An Introduction
  • Major Biometric Modalities: An Overview
  • Face Biometrics
  • Voice Biometrics
  • Fingerprint Biometrics
  • Iris Biometrics
  • Hand Vein Biometrics
    • Comparison of Various Biometric Techniques
    • Summary of Biometric Recognition Techniques
  • Organizations/Standards Governing the Use of Biometrics
  • Biometric Consortium
  • International Biometrics Industry Association (IBIA)
  • Commercial Biometrics Developers' Consortium (CBDC)
  • National Biometric Test Center (NBTC)
  • National Biometric Security Project (NBSP)
  • Biometrics Working Group (BWG)
  • International Association for Biometrics (iAfB)
  • International Biometric Foundation (IBF)
  • European Biometrics Forum (EBF)
  • Biometrics Security Consortium (BSC)
  • Nederlands Biometrie Forum (NBF)
  • Standards for Automated Fingerprint Identification Systems

5. COMPETITIVE LANDSCAPE

  • 5.1 Focus on Select Players
  • AllTrust Networks (USA)
  • CashFlows Europe Limited (UK)
  • Cross Match Technologies, Inc. (USA)
  • Cyber-SIGN, Inc. (Japan)
  • Fujitsu Frontech North America, Inc. (USA)
  • Gemalto N.V (Netherlands)
  • HID Global (USA)
  • IDEMIA (France)
  • Ingenico SA (France)
  • Nuance Communications, Inc. (USA)
  • Precise Biometrics AB (Sweden)
  • Suprema (USA)
  • VoiceVault, Inc. (USA)
  • 5.2 Product Innovations/Introductions
  • Aimbrain Introduces Biometrics Services for Challenger Banks and Fintech Startups
  • Crypto KABN Rolls Out ID KABN Biometric ID Validation Platform
  • Bank of Cyprus Rolls Out Innovative Biometric Payment Card
  • Indian Postal Service Unveils Digital Banking Platform
  • SensibleVision Launches AI Driven Face-Authentication Solution in India
  • FNB Launches TouchPoint Biometrics-enabled ATM
  • Citi China Launches China's First Voice Biometrics Enabled Banking Technology
  • BofA Advances Cashpro(r) Mobile by Integrating Fingerprint, Facial Recognition and Embedded Token Biometrics
  • Societe Generale Launches Biometric Mobile Enrollment System for Bank Accounts Opening
  • Gemalto Unveils Gemalto Assurance Hub for Secure Online banking
  • Aeon Bank Introduces Biometrics Authentication System into ATMs and Teller Windows
  • Sumitomo to Develop New Biometric ID Verification Software
  • Diebold and Samsung Partner to Launch Cardless Biometric ATM
  • ICBC Integrates Fingerprint Identification Function into Mobile Banking Operations
  • HSBC Launches Facial Recognition Integrated Into Mobile Banking App
  • National Bank of Kuwait and Mastercard Launch Selfie Pay Service and Biometric Cards in Middle East
  • 5.3 Recent Industry Activity
  • Facephi Signs Agreement with Bantotal for Integration of Facial Recognition into Bantotal's Products
  • BehavioSec's Behavioral Biometrics Fulfils PSD2 Requirements
  • Veriduim Garners US$16.5 Million T hrough Strategic Series B Funding
  • Aeon and Fujitsu to Launch Field Trials of Biometrics Authentication-based Cardless Payment System
  • IDEMIA and TIS to Develop Biometric Digital Identity Solutions for Mobile Devices
  • Eazy Financial and Benefit Enter into Strategic Partnership to Launch Biometric Payment Network
  • DNP Selects Gemalto's Mobile Protector Solution for Mobile Banking Apps
  • Digi-Sign Collaborates with Daon to Implement FIDO Biometric Solutions for Hong Kong Bank
  • Bank of Cyprus Selects Gemalto for EMV biometric Dual Interface Payment Card Platform
  • Gemalto and Zwipe Collaborate with areeba for Piloting Biometric Payment Card in Middle East
  • Axis Bank Implements Iris Biometrics for Authentication of Aadhar-based Transactions
  • Tradelink and Daon Unveil Fingerprint and Facial Authentication Solutions for DSB
  • Sensory Enters Into Partnership with Fujitsu
  • Veridium Partners with Wala to Provide Biometrics- based Zero-Fee Financial Services
  • Visa Chooses Daon to Provide Biometric Authentication Services for Visa ID Intelligence Platform
  • OT-Morpho Renamed as IDEMIA
  • Kony and Daon Partners to Provide Biometrics-enabled Authentication in Digital Applications
  • BehavioSec Partners with Gemalto
  • EyeVerify Collaborates with Daon for Offering Eyeprint Biometrics Technology
  • Fujitsu and ImageWare to Expand Biometric Security Solutions Portfolio
  • Ceska spoļ½’itelna Chooses Nuance's Voice Biometrics for Mobile Banking
  • 3M Divests Identity Management Business to Gemalto
  • Eazy Financial Services Collaborates with NCR Corporation

6. GLOBAL MARKET PERSPECTIVE

    • Table 9: World Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
    • Table 10: World Historic Review for Biometrics for Banking and Financial Services by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
    • Table 11: World 14-Year Perspective for Biometrics for Banking and Financial Services by Geographic Region - Percentage Breakdown of Revenues for US, Canada, Japan, Europe, Asia-Pacific, and Rest of World Markets for Years 2011, 2018 & 2024 (includes corresponding Graph/Chart)

7. REGIONAL MARKET PERSPECTIVE

  • 7.1 The United States
  • A. Market Analysis
    • Market Overview
    • Demand for Biometric Security Continues to Grow in Banks
  • B. Market Analytics
    • Table 12: US Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
    • Table 13: US Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
  • 7.2 Canada
  • Market Analysis
    • Table 14: Canadian Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
    • Table 15: Canadian Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
  • 7.3 Japan
  • Market Analysis
    • Table 16: Japanese Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
    • Table 17: Japanese Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
  • 7.4 Europe
  • A. Market analysis
    • Current and Future Analysis
    • Payment Services Directive (PSD2): Potential Growth Opportunities for Biometric Payment Cards
    • MasterCard Sets Deadline for EU Banks to Support Biometric Authentication
    • UK: Rising Popularity of Biometrics in Banking Operations
    • Russia Plans to Implement Country-Wide Biometric Database for Financial Services
  • B. Market analytics
    • Table 18: European Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Geographic Region - France, Germany, UK and Rest of Europe Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
    • Table 19: European Historic Review for Biometrics for Banking and Financial Services by Geographic Region - France, Germany, UK and Rest of Europe Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
    • Table 20: European 14-Year Perspective for Biometrics for Banking and Financial Services by Geographic Region - Percentage Breakdown of Revenues for France, Germany, UK and Rest of Europe Markets for Years 2011, 2018 & 2024 (includes corresponding Graph/Chart)
  • 7.5 Asia-Pacific
  • A. Market Analysis
    • Current and Future Analysis
    • Australia
    • China
    • India
      • Biometrics in India's Banking Sector
      • Indian Banks Mandated to Shift towards Aadhaar-Based Biometric Authentication
      • UIDAI: Ambitious Biometrics Project Presents Opportunities for Financial Services
      • Role of Biometrics in Financial Inclusion of Citizens
      • UIDAI Facilitates Cash Transfers
      • IPPB's Payments Bank Space to Spur Demand for Biometric Solutions
  • B. Market Analytics
    • Table 21: Asia-Pacific Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
    • Table 22: Asia-Pacific Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)
  • 7.6 Rest of World
  • A. Market Analysis
    • Current and Future Analysis
    • Latin American Financial Institutions Move towards Biometric Technology
      • Mexico: Biometric Security Mandate Drives Adoption of Biometrics Technology in Financial Services Industry
    • UAE: Customers Show Preference Biometrics in Banking Transactions
    • Africa: Biometrics Emerges as a Solution to Ensure Financial Inclusion
  • B. Market Analytics
    • Table 23: Rest of World Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart)
    • Table 24: Rest of World Historic Review for Biometrics for Banking and Financial Services Market Analyzed with Annual Revenue Figures in US$ Million for Years 2011 through 2015 (includes corresponding Graph/Chart)

8. COMPANY PROFILES Total Companies Profiled: 45 The United States (23) Japan (2) Europe (13) - France (2) - Germany (2) - The United Kingdom (3) - Italy (1) - Spain (1) - Rest of Europe (4) Asia-Pacific (Excluding Japan) (6) Middle East (1)

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