Banking takes another step forward in using biometrics to validate transactions

[Thanks to the emergence of biometrics as an identification system, banking customers would no longer have to remember annoying passwords or validate an automatically generated PIN on their device. First came fingerprint recognition, followed by facial recognition. Institutions such as BBVA allow customers to authorize a purchase or open a bank account through a process as simple as taking a selfie.]

[Now, Banca March has taken it a step further and uses voice recognition to complete transactions, thus becoming the first institution to do so.]

As Selva Orejón emphasizes in the report, […we are in a process that is just beginning, reminding us that biometrics is not only applied in banking applications, but is also being incorporated into other channels, such as ATMs.]

She also highlights that […the problem is that absolute security does not exist… referring to the fact that the average user does not browse with anti-malware software nor has sufficient security measures on their mobile device, despite using all the benefits of time and travel savings that banking applications can offer.]

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