According to the Identity Theft Resource Center, to date there have been more than 778 million records exposed in thousands of data breaches.
One of the foremost technology solutions for addressing the financial security concerns is Biometrics. Its application in the Banking and Financial Services industry is projected to increase to $8 billion by year 2020. This is largely due to less reliability of traditional authentication systems. Investing in biometrics is also seen as a lucrative opportunity today as banks and financial institutions all over the world want to implement it in their security systems as soon as possible.
To sum up, Biometrics in banking industry is now quickly evolving into a global standard. Read the following Investopedia article to increase your knowledge about this opportunity: