Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Technology > Biometrics Generation: Got a Chip on Your Shoulder?
    Technology

    Biometrics Generation: Got a Chip on Your Shoulder?

    Biometrics Generation: Got a Chip on Your Shoulder?

    Published by Gbaf News

    Posted on January 21, 2020

    Featured image for article about Technology

    By Bruce Penson, Managing Director of Pro Drive IT

    Can you imagine a world where identity security solutions are so personalised, they are impossible to mimic or hack?

    There are currently three common ways to prove a person’s identity. Firstly, by means of something they possess such as a key and secondly, by means of something they know; for example, a password. More recently, people have been able to authenticate their identities by means of what they are, using a set of recognisable and verifiable biological data which is unique and specific to them.

    Faced with a rise in document fraud and identity theft, many are turning to new biometric technological solutions to keep personal data and assets secure. As a result, biometrics has quickly established itself as the most reliable way of identifying and authenticating individuals.

    Previously reserved for sensitive applications such as the security of military sites, biometric identification has developed rapidly in recent years – with many applications in the public domain today making using of this technology. Take the iPhone as an example, which uses either fingerprint or facial recognition (depending on the model!) to unlock it.

    One step further

    Now, biometric technology is taking its next leap and progressing into the world of embedded microchips.

    The signs have been there for a while: if there’s one trend in technology, it’s to go small and then smaller still. Computers have gone from desks to laps, while phones have gone from being tethered to the wall to fitting in back pockets. So, it was only a matter of time before these technologies became a part of us.

    It is estimated that between 50,000 and 100,000 people currently sport an embedded microchip – enabling them to unlock their front door, start their car, access the office or buy lunch with a wave of their hand. The chip can even store their medical data.

    Implanted between the thumb and forefinger, the tiny chips are similar to those used for pets. But while pets’ microchips help to identify them if they get lost, the aim of human microchips is to make life a whole lot more convenient.

    Advanced security Epicenter, a ‘Digital Innovation House’ based in Sweden, began microchipping its employees in 2015 – allowing them to open doors, operate printers and buy food from the canteen using a simple scan-to-process function. While BioTeq, a firm which offers implants to businesses and individuals, has already fitted 150 of them in the UK.

    But the question is: would you be willing to have a chip implanted into your skin?
    Some people are understandably wary of these microchips and a number of complex challenges need to be addressed if biometrics technology is to effectively shape personal identity authentication applications.

    There is some trepidation that staff could be coerced into being microchipped and that the technology could be used to control employees, for example. Unlike company swipe cards or smartphones which can generate the same data, a person cannot easily separate themselves from the chip either – so the invasion of privacy could also be an issue.

    However, in terms of security, biometric data cannot be forgotten, exchanged, stolen or forged – making it much more secure than traditional methods such as passwords and key cards. And as these chips are developed further beyond the simple scan-to-function process, security will only improve. For example, using a multistage feedback network would enable the chip to grant people access to their computer – but only if it had already unlocked their front door that day.

    Whether or not human microchipping will take off on a wider scale still remains to be seen but one thing is for sure: the next generation will expect businesses to adapt to this level of technology. So, it is vital to be ready for it.

    Related Posts
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    How Integral’s CTO Chidambaram Bhat is helping to solve  transfer pricing problems through cutting edge AI.
    How Integral’s CTO Chidambaram Bhat is helping to solve transfer pricing problems through cutting edge AI.
    Why Physical Infrastructure Still Matters in a Digital Economy
    Why Physical Infrastructure Still Matters in a Digital Economy
    Why Compliance Has Become an Engineering Problem
    Why Compliance Has Become an Engineering Problem

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Technology PostFS brands have a duty to promote financial wellness as technology advances
    Next Technology PostTrends influencing the 2020 data storage landscape includeAI, mass adoption of hybrid cloud, object storage at the edge, and cybersecurity

    More from Technology

    Explore more articles in the Technology category

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    How Nclude.ai   turned broken portals into completed applications

    How Nclude.ai turned broken portals into completed applications

    The Silent Shift: Rethinking Services for a Digital World?

    The Silent Shift: Rethinking Services for a Digital World?

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    Why AI's Promise of Efficiency May Break Tomorrow's Workforce

    Why AI's Promise of Efficiency May Break Tomorrow's Workforce

    Revolutionizing AppSec: The AI Security Crew Paradigm Shift

    Revolutionizing AppSec: The AI Security Crew Paradigm Shift

    View All Technology Posts