The BFSI industry comprises organizations that are into banking services such as core banking, corporate, retail, investment, private, and cards; financial services such as payment gateways, stock broking, and mutual funds; and insurance services covering both life and general risks. The industries faces critical security challenges, such as frauds and hacking. Significant developments in the field of mobile banking and online payments have further propelled the demand for adopting a safer and more secure way of authentication. The necessity for a stronger authentication solution has become inevitable in banking and financial services, owing to the rise in fraud and security breaches due to reliance on traditional security systems such as passwords and PIN codes. Hacking into accounts is relatively easier when access is based on such credentials. Thus, financial institutions are increasingly adopting biometric technologies to protect both their and their customers’ data against the consequences of a breach in security. Moreover, these institutions use biometric technologies to combat the threats posed by fraud and identity theft. Thus, the biometric technology is becoming popular owing to its advantages such as reliability, accuracy, and cost effectiveness. The use of these biometric technologies enables the customers to access their account securely and it provides financial institutions a competitive advantage, as customers continue to pursue greater protection against fraud and identity theft.

Biometric as a Service in BFSI

Comparing 25 vendors in Biometric as a Service across 56 criteria.
3 Experts are advising 45 Biometric as a Service buyers
Accenture offers biometric authentication services through Accenture Unique Identity Service Platform (UISP).The Accenture UISP offers a scalable and secure identity management framework that is both scalable and high performing.
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88 Buyers Negotiating
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For ACCENTURE PLC
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Fujitsu provides pay-as-you-go, plug-and-play multi-modal biometric cloud identity and authentication services that offer enterprise-level data security. Fujitsu caters to the security needs of various organizations by providing multiple biometrics security modules, such as voice, facial, and fingerprint.
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63 Buyers Negotiating
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For FUJITSU LIMITED
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Leidos offers biometric-based identification and credentialing solutions that are critical for ensuring the safety of the customers. The company offers the IDHaystack solution, which is a service-based, multimodal, biometric storage, on-demand, pay-as-you-go identification and verification solution. IDHaystick is an open and extensible solution for identification and verification operations
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66 Buyers Negotiating
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IDEMIA solutions are based on technologies such as fingerprint recognition, multimodal recognition combining fingerprints and vein patterns, facial recognition, and iris recognition.
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77 Buyers Negotiating
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BioID offers biometrics-as-a-service through the BioID Web Services (BWS). BWS can provide multimodal biometrics authentication to the application developers of any software or service having the internet access.
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86 Buyers Negotiating
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Aware Biometric Software includes a broad portfolio of biometrics software products for large-scale fingerprint recognition, facial recognition, and iris recognition systems. These solutions include a biometrics services platform known as BioSP; a scalable, automated biometric identification system known as Astra; SDK for name matching and identity resolution, browser, and Windows-based UIs; SDKs for biometric enrollment; and SDK for fingerprint, face, Aware Biometric Software and iris recognition known as Nexa.
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89 Buyers Negotiating
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Hypr True Passwordless Security provides decentralized biometric authentication solutions for various industrial applications, including retail, banking, insurance, and payments. The company’s biometrics solutions provide instant access to fingerprint, face, voice, palm, and eye recognition across more than 2 billion devices.
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84 Buyers Negotiating
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For HYPR CORP
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IriTech provides the iris-based biometric recognition technology through software libraries and embedded camera hardware. IriSecureID is used for identity assurance, and they contribute to the security and safety of the customers.
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65 Buyers Negotiating
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M2SYS provides identity management solutions that offer increased security with reduced expenditure for governments and businesses globally. For the government sector, the company provides various solutions, including Automated Biometric Identification Solution (ABIS); SecuredPASS, a border control solution; TrueVoter, a voter ID solution; Bio-Hyperserver, a high-speed matching and deduplication solution; TrueID, a national ID card solution; e-Passport; e-Police, a solution for law enforcement; and CloudABIS, an ABIS solution on the cloud platform.
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63 Buyers Negotiating
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Fulcrum provides integration for multiple platforms with tailored software solutions. The company also offers cloud-based and hosted biometrics solutions
86 Buyers Negotiating
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For FULCRUM BIOMETRICS LLC
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In the biometrics-as-a-service market, SmilePass provides a wide-ranging product portfolio that is based on its SaaS platform. The company offers multimodal biometric authentication APIs that can be quickly and easily integrated into the users’ applications. The backend SmilePass servers adhere to the latest ISO 27001 (UK) mandate, and the data generated from the SmilePass platform is encrypted to ensure security compliance. The company also offers SDKs to encourage client independence.
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67 Buyers Negotiating
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For SMILEPASS
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Certibio provides user identity validation solutions using face, fingerprint, voice, and iris biometrics. Certibio offers an innovative biometrics-as-a-service model with pay-per-transaction facilities for new registrations as well as for fetching entries from existing registrations.
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65 Buyers Negotiating
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For CERTIBIO
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73 Buyers Negotiating
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For IMAGEWARE SYSTEMS INC
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68 Buyers Negotiating
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For CERTIFY GLOBAL INC
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79 Buyers Negotiating
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For BYTES TECHNOLOGY GROUP
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89 Buyers Negotiating
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For AIMBRAIN SOLUTIONS LTD
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76 Buyers Negotiating
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For SECURAX TECH SOLUTIONS (I) PVT LTD
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85 Buyers Negotiating
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For SUPREMA HQ INC
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69 Buyers Negotiating
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For VOICEPINCOM
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63 Buyers Negotiating
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For VOICEIT TECHNOLOGIES LLC
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