Biometrics in BFSI Market
Banks around the world are increasingly opting biometrics to authenticate customers accessing their services. This trend is not limited to banks; other financials outfits are also taking up biometric authentication to identify customers and safeguard resources. Increasing cases of financial fraud, identity theft, and threats from cyberspace have made banks to restructure their identity practices and biometrics in banking and financial services offers the solution. Most banking customers are tech-savvy nowadays and expect a friction-less access to banking services but password based identity solution fails keep up with expectations, however, with biometrics in banking, things seems to be changing now.
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The scope of the Report:
The BFSI sector is increasingly focusing on providing the highest level of security to their customers by reducing identity duplication. With changing consumer preferences and introduction of new payment methods, it has become imperative for banks to transform the payments and card (PCI) industry digitally. This has led to the introduction of new payment methods such as PIN cards, mobile wallets, and EMV chips. With the advances in technology, the number of frauds and forgeries are also increasing, thereby increasing the need for a solution which is difficult to duplicate. Several banks are adopting biometrics to prevent fraud and protect customer’s information from being compromised.
Manufacturer, Distributor, Downstream Client Companies Data Analysis:
Cross Match Technologies, Fujitsu, HID Global, M2SYS, Safran
Market segment by Type, the product can be split into
Market segment by Application, the market can be split into
Log-In Management for PCs
Log-In Management for ATMs
Log-In Management for POS Terminals
Log-In Management for Banking
One of the recent trends gaining significant traction in the market is the increasing adoption of vein recognition in ATMs and POS terminals. Banks and financial institutions in emerging economies like India, China, Mexico, and Brazil has readily adopting vein recognition biometrics to verify the identity of their customers. North America accounted for the largest share of the market and is likely to dominate the market until the end of 2020. Factors such as increased awareness among the organizations in the BFSI sector about the benefits of deployment of biometrics and the presence of many large financial institutions and companies in the region will contribute to this market’s growth in the region.
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Reasons to Buy This Report:
- The detailed overview of the Biometrics in BFSI market
- Changing market dynamics in the industry
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Key business strategies by major market players and their key methods.Must-have information for market players to sustain and enhance their market footprint
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- Major changes and assessment in market dynamics & developments.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on different types of Biometrics in BFSI market offered by the top players operating in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the market.
- Market Development: Comprehensive information about emerging markets as the report analyzes the markets for the across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Biometrics in BFSI market.
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of the leading players operating in the market.
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Some of the Biometrics in BFSI market key features that are under offering & key highlights of the report:
Q.1 Can we include or profile a company as per our requirement?
Yes, we can definitely add or profile a new company as per client requirement in this research study. The research team will provide a final confirmation depending on the status of the survey.
** In case of a privately held company, data availability will be verified by the research analysts, wherein up to 3 players can be added at no added cost.
Q.2 What are the regions covered in this report? Can country-wise segmentation be provided?
At present, this research report highlights and focuses on the following regions:
United States, Europe, China, Japan, Southeast Asia, India & Central & South America.
** One country as per the client need can be included at no added cost. In case of including more regional segments, a quote may differ.
Q.3 Can additional segments be included, or Biometrics in BFSI market breakdown is possible?
Yes, the inclusion of extra segmentation/market breakdown is possible pertaining to the availability of data and the difficulty of a survey. Nevertheless, a detailed client requirement is to be shared with our research analysts before giving final confirmation.
** Depending upon the requirement the deliverable time and quote will vary.