The global biometric system market revenue was 21.8 billion USD in 2018. It is expected to grow even more in the course of the next few years. All types of businesses and organizations are utilizing biometrics for an array of operations. There are many use cases of biometrics but a few of them have gained acclaim among industries, due to extreme precision in results and enhanced technologies. A few of these use cases are biometric identity verification, fraud prevention, digital signups, online access, law enforcement, etc.
Industries commonly using Biometrics
Biometrics is no more a new thing, but they are a big thing due to a wide range of usage. Commonly biometrics are used by financial institutions, hospitals, social media platforms, government organizations, security agencies.
All these industries have been using biometrics for numerous purposes. Some of the most common purposes include fraud prevention, KYC and AML compliance, security measures, client onboarding, device and systems access, online signup, law enforcement, etc
These are just a few use cases of biometrics. It is used widely around the globe for several purposes. Due to the nature of biometric technology, it can be easily integrated into many types of systems and tools to serve the purpose of risk prevention and security check.
3 Promising Use Cases of Biometrics for enhancing Operations
Biometrics for fraud prevention
Fake identities are a common threat these days. As per the Insurance Information Institute (III), 3 million identities were stolen in 2018 in the USA, and more than 50% of those identities were used to defraud businesses and banks.
Stolen or fake identities are used by fraudsters to commit numerous crimes to buy goods online, get free medical services and prescription drugs, money laundering or terrorist financing, drug trafficking, human trafficking, etc.
Businesses and government organizations are utilizing it equally for fraud prevention and security purposes. Real-time non-physical biometrics like face recognition, eye retina screening, and voice recognition are the latest technologies gaining wide appreciation among the masses.
Customers believe that real-time biometric verification ensures the security of an online platform, where physical biometrics could not be used. A study by Experian revealed that 74% of consumers in 21 countries are more confident regarding the security that biometrics provide as compared to passwords. This confidence is not limited to consumers only, government organizations, military, and security agencies also use biometrics broadly for security purposes.
Online biometric verification is serving global entities. One unique usage is identity verification. Face recognition is used to verify the true identity of a person for fraud prevention while onboarding customers online. Information fetched from ID card is compared with the real-time image. After an in-depth screening for minor facial movements and photoshop or static image, the client is verified.
Biometrics for a social cause
In several instances, biometrics are used to streamline and enhance social work. International organizations are using it to enhance their social services delivery. Delivering quality services is difficult in countries where the government and regulatory authorities are unaware of the social status of their people. World Food Program used biometrics to streamline food aid in Jordon in 2016.
Biometrics are used to enhance recovery and control the operations of an epidemic and natural disasters. African nations are using biometrics in their medical institutions to keep track of vaccinations and HIV patients in the country. Africa was quicker in adopting biometrics as compared to developed countries, due to transparency and precision that biometrics offers.
Helping faces is one good example. It is an app that uses face recognition to identify lost children. Many other apps are developed on this same roadmap to identify lost children. These apps are easily accessible and make the process of child search seamless and faster. Reduces an overall work hassle of institutions.
Biometrics for cross-border custom protocols
Cross border custom protocols are tormenting not only for individuals but also for people who exercise them. Countries that practice strict scrutiny on immigrants are utilizing the potential in biometrics.
Immigration authorities use biometrics to exercise immigration rules and regulations. Biometrics are used at airports to screen for money launderers and criminals, etc. The US Customs and Border Protection (CBP) are planning to improve their immigration enforcement practices.
Face verification was used previously by the US Immigration and Customs Enforcement (ICE) agency for enforcement of immigration laws. Now they are planning to increase the scope of biometrics usage in law enforcement. The agency is planning to use face recognition to identify illegal immigrants through surveillance cameras on the streets.
The new program is expected to become active from 2025 and private companies are expected to aid this program. This new face recognition program will help agencies in finding and deporting illegal immigrants.
To conclude, biometrics has numerous advantages for all types of organizations and institutions. Physical biometrics, non-physical biometrics, and emotional biometrics are one of the trusted security and fraud prevention technologies used around the globe. The use cases of biometrics are expanding and are expected to deliver more value in the future.