Edison, NJ -- (SBWIRE) -- 02/19/2020 -- Biometrics are automated methods of recognizing customers through their biological characteristics and traits such as fingerprints, iris, and voice recognition. Financial service biometrics refers to biometric systems used to aid in the flow of money. The rise in the use of biometrics in banking is helping to better secure customer transactions to prevent fraud. It helps to create a secure banking environment by establishing a concrete audit trail for transactions, reducing identity fraud and safeguarding financial data.

The Biometrics for Banking Financial Services Market has witnessed continuous growth in the last few years and is projected to grow even further during the forecast period of 2020-2026. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions. Some of the major and emerging players in the Global Biometrics for Banking Financial Services market are 3M (United States), AllTrust Networks (United States), HID Global (United States), NuData Security Inc. (Canada), United Biometrics (Paris), Fujitsu (Japan), Gemalto N.V. (Netherlands), IDEMIA (France), Ingenico S.A. (France) and Nuance Communications Inc. (United States).

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If you are part of this market, then Get to Know how you are perceived in comparison to your competitors 3M (United States), AllTrust Networks (United States), HID Global (United States), NuData Security Inc. (Canada), United Biometrics (Paris), Fujitsu (Japan), Gemalto N.V. (Netherlands), IDEMIA (France), Ingenico S.A. (France) and Nuance Communications Inc. (United States); Get an accurate view of your business in Global Biometrics for Banking Financial Services Marketplace with latest study published by Advance Market Analytics.

Breakdown by Type (Face Biometrics, Voice Biometrics, Fingerprint Biometrics, Iris Biometrics, Hand Vein Biometrics, Others), Application (On-site Banking (Branch Banking, ATMs, Points of Sale, and Call centers), Online Banking, Mobile Banking (Banking Apps, and Mobile Wallets), Others), End-User (Banks, Insurance Companies, Financial Service Organizations, Others), Sales Channel (Direct Channel, Distribution Channel), Component (Hardware, Software, Services), Service Type (Identification & Authentication, Payments & Transactions, Data and Network Security, Others)

The Global Biometrics for Banking Financial Services Market study covers current status, % share, future patterns, development rate, SWOT examination, sales channels, to anticipate growth scenarios for years 2020-2026. It aims to recommend analysis of the market with regards to growth trends, prospects, and player's contribution in the market development. The report size market by 5 major regions, known as, North America, Europe, Asia Pacific (includes Asia & Oceania separately), Middle East and Africa (MEA), and Latin America and further into 15+ country level break-up that includes China, the UK, Germany, United States, France, Japan, batch of Southeast Asian & Nordic countries.

Market Leaders and their expansionary development strategies
On March 29, 2017, Mastercard has announced that it has entered into an agreement to acquire NuData Security, a global technology company that helps businesses prevent online and mobile fraud using session and biometric indicators.

On April 10, 2019, HID Global, a worldwide leader in trusted identity solutions, has announced that its new fingerprint reader that merges credential excellence with HID's globally-patented multispectral imaging technology to address this issue and fuel broad adoption of biometrics at the door.

European Union's revised Payments Services Directive requires two-factor authentication. Alongside a PIN, a biometric feature is likely to be the second. Europe's open banking framework requires so-called strong customer authentication for banks to share customer data with other providers, with biometrics one of the options.

Market Trend
- Biometric Single Sign-on Solution for More Effective Password Management
- Mobile Payments Drives Adoption of Biometrics Technology

Market Drivers
- The rapid digitization of banking services combined with the continued need to adopt stricter customer and employee identification protocols to prevent identity theft and fraud is driving the market growth.
- Reduction in Transaction Times and Authentication Convenience, Improved Security
- Unreliability and Vulnerability of Traditional Authentication Methods Fuels Adoption of Biometrics Solutions

Opportunities
- Biometric Payment Cards Propelling Growth in the Biometrics Market in BFSI Sector
- Alternative Way to Combat Money Laundering, Internet Transaction Fraud, And Identity Theft Related Crimes
- Advent of Artificial Intelligence (AI) To Monitor Behavioural Anomalies and Prevent Security Threats with Much More Precision

Restraints
- Recovering from a Compromised Biometric
- Ramifications of Security Breach Involving Biometric Information is Serious

Challenges
- Competition to Deliver Best Customer Experience and Building Customer Loyalty Whilst Ensuring Customer Security

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For Consumer Centric Market, Survey or Demand Side Analysis can be provided as part of customization which consider demographic factor such as Age, Gender, Occupation, Income Level or Education while gathering data. (if applicable)

Consumer Traits (If Applicable)
- Consumer Buying patterns (e.g. comfort & convenience, economical, pride)
- Buying behavior (e.g. seasonal, usage rate)
- Customer Lifestyle (e.g. health conscious, family orientated, community active)
- Expectations (e.g. service, quality, risk, influence)

The Biometrics for Banking Financial Services market factors described in this report are:
-Key Strategic Developments in Biometrics for Banking Financial Services Market:
The research includes the key strategic activities such as Research & Development (R&D) initiatives, Merger & Acquisition (M&A) completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale.

Key Market Features in Global Biometrics for Banking Financial Services Market:
The report highlights Biometrics for Banking Financial Services market features, including revenue size, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, demand & supply, cost bench-marking in Biometrics for Banking Financial Services, market share and annualized growth rate (Y-o-Y) and Periodic CAGR.

Analytical Market Highlights & Approach
The Global Biometrics for Banking Financial Services Market report provides the rigorously studied and evaluated data of the top industry players and their scope in the market by means of various analytical tools. The analytical tools such as PESTLE analysis, porters five forces analysis, feasibility study, SWOT analysis by players, BCG matrix, heat map analysis, and ROI analysis have been practiced reviewing the growth of the key players operating in the market.

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Key Points Covered in Biometrics for Banking Financial Services Market Study :
Biometrics for Banking Financial Services Overview, Definition and Classification
Market drivers and barriers
Biometrics for Banking Financial Services Market Competition by Manufacturers
Biometrics for Banking Financial Services Capacity, Production, Revenue (Value) by Region (2020-2026)
Biometrics for Banking Financial Services Supply (Production), Consumption, Export, Import by Region (2020-2026)
Biometrics for Banking Financial Services Market Analysis by Type (Face Biometrics, Voice Biometrics, Fingerprint Biometrics, Iris Biometrics, Hand Vein Biometrics, Others), Application (On-site Banking (Branch Banking, ATMs, Points of Sale, and Call centers), Online Banking, Mobile Banking (Banking Apps, and Mobile Wallets), Others), End-User (Banks, Insurance Companies, Financial Service Organizations, Others), Sales Channel (Direct Channel, Distribution Channel), Component (Hardware, Software, Services), Service Type (Identification & Authentication, Payments & Transactions, Data and Network Security, Others)
Biometrics for Banking Financial Services Manufacturers Profiles/Analysis
Biometrics for Banking Financial Services Manufacturing Cost Analysis
Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers
Marketing Strategy by Key Manufacturers/Players, Connected Distributors/Traders
Standardization, Regulatory and collaborative initiatives
Industry road map and value chain
Market Effect Factors Analysis............

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