TECH BUYER Mar 2022 - IDC Perspective - Doc # AP48658022

Biometrics Reaches a Tipping Point in Asia/Pacific Banking

By:

Michael Araneta
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Abstract

This IDC Perspective explores how biometrics use has become well entrenched in Asia/Pacific financial services, and what banks should consider as the ideal set of capabilities for the adoption and use of biometrics in critical business processes, particularly customer onboarding.

Michael Araneta, AVP, IDC Financial Insights Asia/Pacific says, "The solution must be able to manage verification spikes and high volumes of consumers while maintaining high accuracy levels. However, non-biometrics capabilities enhance the proposition of a seamless, safe, secure, and convenient proposition for customers. These include address lookup, autocomplete features to reduce human errors during data entry, onboarding solution, and greater use of AI/ML to ensure that the models keep up with the times."


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