Growth in disruptive Fintech solutions could be capitalised on by Australian firms developing biometric solutions, says research firm Frost & Sullivan.Mobile payments make up the majority of the revenues of all the Fintech segments, said F&S in a new report, placing an emphasis on data and connection security.This also means that Australian Fintechs need to partner and collaborate with security vendors and ICT companies to improve the security and connectivity of increasingly mobile-centric financial services and to protect a user's financial data”Biometric security will be the future of mobile security and Fintechs will drive the expansion of biometric security”, noted the firm in a press release.”Biometric security protects an individual's financial data and reduces vulnerability to cyber fraud or physical fraud as well as weak or misplaced passwords. Biometric security will make the user themselves the strongest element in a security measure. Frost & Sullivan anticipates that biometric authentication will be the future of mobile security, with extensive biometric security features developed or announced for implementation in all new smartphones over the next 18 months”.

Also in the news:

Default ThumbnailPanasonic to provide more face recognition at Japan’s airports Default ThumbnailIriTech to showcase iris camera system for PCs Default ThumbnailUK flexible plastics tech firm targets biometrics