Wells Fargo has taken three mobile banking-related startups under its wing as part of its first official accelerator program.
The mobile biometrics market is forecast by TechNavio to see a 156.9 percent compound annual growth rate through 2018. Factors fueling the growth include the use of mobile devices for financial transactions and other security applications.
A number of emerging technologies are vying to revolutionize the payments industry by providing a seamless mobile experience at the point of sale. Much has been made of the Bluetooth vs. near-field communications, or NFC, faceoff, but there appears to be another rising challenger: biometrics.
The rumored inclusion of a fingerprint sensor in the next iPhone should accelerate the use of biometrics to secure mobile payments, judges Jean-Noel Georges, global program director for ICT in financial services at Frost & Sullivan.
As more and more personally owned devices enter the enterprise, the need to verify the identity of those accessing corporate networks has become paramount.
EyeVerify, a supplier of smartphone-based eye vein biometrics, is working with Android smartphone makers to offer its authentication product as a way to strengthen BYOD security, Toby Rush, the group's chief executive officer, told FierceMobileIT here in Las Vegas on Wednesday.
OKI Electric has introduced new software that will bring iris recognition technology to smartphones, as biometric two-factor authentication becomes more desirable for mobile enterprise platforms. The