What is biometric authentication? Pros & Cons

What is biometric authentication? It’s a type of security that uses physical or behavioral characteristics to verify someone’s identity. This can be anything from a fingerprint to a retinal scan. Today, biometric authentication is growing in popularity for different industries because biometrics are an effective way to control access to sensitive information, devices, or physical locations. 

Pros

• The biometrical process is more secure, as it is difficult to spoof biometrics like fingerprints or iris scans; 
• Biometric authentication is convenient, as users don’t need to remember passwords or carry around ID cards; 
• Biometric authentication is fast, as there is no need to input information manually. 

Biometric authentication has many advantages over traditional methods like passwords and PIN codes. For one, it’s much more secure. It’s also convenient and fast. 

Biometrics provide increased levels of assurance to providers that a person is real by verifying a tangible, real-world trait as both something the user has and something the user is. Most user’s passwords and PINs and personal identifying information have likely been compromised with a data breach, meaning, billions of accounts can be accessed by fraudsters who retain the answers to traditional authentication methods. Introducing biometric authentication into the process adds in a roadblock for fraudsters. 

Cons

• The initial cost of setting up biometric security can be expensive; 
• Biometric data, like any other type of data, can be hacked; 
• Biometric devices, like facial recognition systems, can limit privacy for users. 

There are some disadvantages to biometric authentication, however. The biggest one is cost. It can be expensive to set up biometric security, especially on a large scale. Additionally, biometric data can be hacked just like any other type of data. And finally, biometric devices like facial recognition systems can limit privacy for users. 

Businesses and governments that collect and store users’ personal data are under constant threat from hackers. Because biometric data is irreplaceable, organizations need to treat sensitive biometric data with increased security and caution – something that’s expensive and technically difficult to stay ahead of fraud advancements. If a password or pin is compromised, there’s always the possibility of changing it.  

The future of biometric authentication 

The total market value of the biometrics industry is expected to grow 83% in the next four years as more organizations adopt biometric authentication to secure data, devices, and applications. Continuous improvement of biometric security solutions is a must. Fraudsters or criminal entities are finding new ways to circumvent biometric authentication systems. 

Specialists expect biometrics integrated in KYC/AML solutions to be widely incorporated into continuous authentication systems as they become more available in the near future. 

So, what is biometric authentication? Pros and cons aside, it’s a tool that can be used to verify someone’s identity. And in an increasingly digital world, that’s becoming more and more important.  

If you want to know more about what is KYC and how the solution developed by QOOBISS can help customer onboarding process set a meeting with our team. Using the latest AI-powered biometric technologies, our AML/KYC compliance software provides fast and accurate customer identity verification, reduces fraud, and saves you money.