Passwords Are Dying. Let Them.

Don’t smile too wide if a website congratulates you on a strong password. There are many parties working hard to eliminate that — and for the September edition of the PYMNTS Digital Identity TrackerTM, we feature one.

The Fast IDentity Online Alliance (FIDO) was set up in July 2012 to work solely to take the authentication of a consumer’s digital identity beyond passwords.

If Passwords Are Out, What’s in?

Smile. Blink. Touch. Yes, securing and verifying a consumer’s digital identity is about to get real personal. The biometrics technology market will touch $15 billion by 2024, according to estimates.

And it’s not just the stuff of “Minority Report,” either.

Australia will test facial matching capability to verify citizen data, Pakistan is experimenting with biometric polling trials during elections and the Baltimore, Maryland police plan to use a biometric forensic device for fingerprint identification.

Tracker Overview

This issue of the Tracker also includes the profiles of 73 industry players, with 5 new additions — CardLogix, EyeLock, HID Global, Sift Science and TokenEx — and four updated companies: ABnote, Arroweye, Bitnet and Morpho.

For more updates from Oberthur, click here.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.