Biometrics, authentication, identity fraud, POS devices, fingerprint, retina scan, facial recognition, ultrasound, signature
(PRWEB) February 20, 2004--Biometrics is to many seen as the ultimate in high tech security, enabling access to systems through the blink of an eye or the touch of a finger. However, the technology is becoming less science fiction by the day as the price of hardware drops and devices become increasingly commonplace. In their latest report, 'Biometrics and Identity Verification, Ready for Prime Time?', Mercator Advisory Group investigates the potential of biometrics in the consumer payments industry.
Nick Holland, Director Emerging Technologies Research and co-author of the report determines that the one to one marketing potential of biometrics as seen in 'Minority Report' will not be hitting the high streets anytime soon:
"Biometrics are a highly valuable tool in assisting with the verification of an individual's identity, but will not be used for consumer payments in their own right for some time. We'll see them more frequently as a second or third factor of authentication, used in conjunction with something we have, such as a credit card and/or something we know, such as a password or PIN, but not by themselves..."
The 37 page report analyzes each of the common biometric types in use in today's security systems and assesses which applications are most applicable to the consumer payments industry based on their individual strengths and weaknesses. The report also highlights current rollouts of biometric technology for consumer payment applications and considers the factors that those planning to invest in biometric systems really need to consider.
"It's not just about purchasing the hardware and plugging it in, it's about considering the environment it will be used in and for how long -- biometrics rely on good, clean, accurate readings and a typical POS terminal will be in use for five years or more. The biometric hardware needs to keep up with the same level of abuse and must consistently deliver time after time. If not, users will simply revert to tried and tested payment vehicles such as card, check and cash..." says Holland.
Key Findings/Highlights Include:
1. An analysis of how biometrics work and how they differ from existing security processes such as PINs, passwords and tokens
2. An analysis of the various technologies available and their appropriateness for consumer payment applications of biometrics
3. A strategic discussion concerning security models using what we know, have, are or do – under one, two, three and four factor authentication
4. Example rollouts of biometric devices within the Consumer Payments Industry
5. A Reality check – an assessment of the vulnerabilities of biometrics and analyzing the actual effectiveness of biometrics in securing access to logical and physical networks
This report is 37 pages long and contains 13 exhibits.
Members of Mercator Advisory Group have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits. Please visit us online at www.mercatoradvisorygroup.com.
For more information call Mercator Advisory Group's main line: 508-845-5400 or send email to info@mercatoradvisorygroup.com.
###
|
