Biometrics systems could spell the end for the password, and, for payments, the end of the PIN code. Mastercard, for example, is prepping the launch of a new contactless card with an embedded fingerprint sensor, creating a more secure transaction method.
After recent cyber attacks, HSBC is stepping up its security procedures with voice and touch recognition security services in the UK. According to reports, this will alleviate the need for passwords and memorable questions for up to 15 million banking customers.
Barclays also upped security in 2014 – offering fingervein scanning for authentication of large transactions.