Report Summary

The second edition of Mobile Biometrics for Financial Services - Market & Technology Analysis, Adoption Strategies & Forecasts 2018-2023 is a 206 page analyst report that provides detailed analysis of the market and adoption of mobile biometrics for financial services.

Author: Alan Goode
Publication Date: Jan 03 2019
Number of Pages: 206

Report Information

Full Product Description

An investigation into the use of mobile biometrics for financial services, including payments and banking. This comprehensive report includes a review of current global adoption, market analysis including key drivers and barriers for adoption, interviews with leading stakeholders, technology analysis with review of key biometric technologies and profiles of companies supplying mobile biometric components and systems for financial services plus forecasts (regional and global) for users, devices, transactions and revenue within the six-year period 2018 to 2023.

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This is the third report in the biometrics for financial services series and covers adoption strategies and forecasts for the use of mobile biometrics for banking and payments. Goode Intelligence forecasts that over US$1.67 trillion worth of mobile biometric payments will be made annually by 2023 generating over US$8.7 billion in revenue for suppliers.

The initial growth will mainly come from remote (digital) payments, a combination of mCommerce and eCommerce, aided by FIDO 2.0 (WebAuthn) standards. Goode Intelligence forecasts that during 2018 there is 68 percent remote mobile biometric payment users versus 32 percent local (physical – in-store). By 2023 the percentage of local mobile biometric payment users increases to 46 percent with remote accounting for 54 percent of total mobile biometric payment users.

The major trends that Goode Intelligence is seeing for this industry include:
• Rise of mobile & multi-modal mobile-based biometric authentication
• Biometric adoption in all channels supported by open banking APIs that support biometrics
• Beginning of the deployment of single biometric platforms leveraging mobile biometrics to support multiple channels and both identity, authentication and fraud management functions
• The growth of biometric identity verification (proofing) harnessing mobile face biometrics
• Industry regulation will start to specifically reference biometrics as part of its guidance on two and multifactor authentication (EU PSD2, USA FFIEC guidelines and Bank of China and Korea legislation)
• The growth of mobile face biometrics as a biometric technology that is versatile and can support identity verification and authentication
• Leveraging the power of machine learning (ML) and Artificial Intelligence (AI) technology to improve biometric performance and spoof / liveness detection – both in-chip (on-device) and in-cloud
• FIDO 2.0/WebAuthn standards and support by major browsers will accelerate mobile-based FIDO authentication for banking and payments

Report Contents / Forecasts
Executive Summary
Market & Technology Analysis
An introduction to mobile biometric technologies
How mobile biometrics are used for financial services
Market Drivers & Barriers
Regulation & Technology Standards
Mobile Biometric Technology; Adoption and Analysis
Local (physical)
Remote (App)
Mobile Biometric Technology Analysis & Vendor Review
Users by Technology including:
Users by Type including:
Mobile Payments
Local (physical)
Remote (Web & App)
Mobile Banking
Mobile eIDV

Companies Referenced in this report: Agricultural Bank of China, Aimbrain, Alibaba, Alipay, Amazon, American Express, Ant Financial, Applied Recognition, Apple, Atom Bank, Aware, Banco Popular de Puerto Rico, Bank of America, Bank of Scotland, Barclays, BehavioSec, BioCatch, Biometric SignatureID, BNP Paribas, Brightek, Certibio, China Construction Bank, China Union Pay, City Bank of Texas, Cognitec, Commercial Bank of China, Crossmatch, Daon, Deutsche Bank, Diamond Fortress, Diebold Nixdorf, Digital Insight, Diners Club, Egis, EMVCo, Epileds, Epistar, Epson, Encap, Experian, Eyelock, FIDO Alliance, Fingerprint Cards, First Direct, FotoNation, Fujitsu, GBG IDScan, Gemalto, Goldman Sachs, Goodix, Google, IDEMIA, IDology, ID R&D, InFocus, ING, iProov, İşbank, HSBC, HYPR, JCB, JP Morgan Chase, Jumio, KeyLemon, Kount, Leumi, Mastercard, Megvii, Microsoft, Mitek Systems, Nationwide Building Society, Natwest Bank, Nice, Nok Nok Labs, Noris Bank, NTT DOCOMO, Nuance, OCBC, OneSpan, Onfido, Osram, PayPal, Princeton Identity, RedRock Biometrics, Royal Bank of Scotland, RSA, Qualcomm, St Georges Bank, Safran, Samsung, Samsung SDS, SecuredTouch, Sharp, SmilePass, SoftKinetic, Sonavation, Sony, Synaptics, Tangerine Bank, TypingDNA, USAA, Veridium, Visa, Vishay, VoiceTrust, Westpac, Xiaomi , Yoti, Zoloz