Tech-focused research group Tractica has predicted that surging interest towards biometric authentication in the finance industry will see shipments of sector-specific biometric devices grow to 212 million by 2024.The figure represents growth in shipments from 4.7 million units in 2015 to 43.7 million annually by that year.”Many industries are getting close to adopting biometrics but finance is there now,” says principal analyst Bob Lockhart. “Cash machines with fingerprint readers, vein imaging, and iris imaging are increasingly deployed, especially where fraud is high and law enforcement is low. Innovative point-of-sale authorization requires a fingerprint, facial recognition, and even an electrocardiogram. And mobile banking can be authorized through many types of biometrics, only readable from the customer's own device.”Tractica's report, “Biometrics for Finance Applications”, examines the market for biometrics in the finance industry, including 10-year forecasts for the period from 2015 through 2024. The report examines six use cases specific to finance, focusing on consumer-facing use cases to improve security and convenience simultaneously.

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