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Trend: FIs Shift Away From Passwords Toward Biometric Solutions

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Financial institutions could improve security, reduce costs and enhance the customer experience by replacing the password with integrated biometric solutions.

Dupont, Washington-based America’s Credit Union, for example, integrated omnichannel digital banking provider Access Softek‘s biometric solution to its platform to replace the password, an Access Softek spokesperson told Bank Automation News. “We think that the password is an enormous security problem,” Access Softek founder and Chief Executive Chris Doner told BAN, noting that bank passwords are often forgotten, shared, cracked, or breached. “There are all sorts of ways in which a nefarious individual can get your password. ”Access Softek’s solution offers “a unified, integrated biometric solution so that you can log into your mobile banking [app] with your finger or face,” Doner said. The capabilities also extend to authentication in the call center, where clients can skip a questionnaire and instead hold their phone up to their face for identity verification. Read the full article About Access Softek, Inc.  Access Softek is the trusted partner of credit unions and banks, providing comprehensive Access Digital suite of banking solutions that includes everything consumers and business owners need from the basics of online and mobile banking to account opening and lending, conversational banking, biometric authentication, real-time fraud prevention, automated investing, crypto solution that can be integrated directly into a financial institution’s digital banking platform, modern intuitive member UI/UX, and other innovative products.Today, over six million customers securely and easily manage their money using Access Softek solutions. Access Softek sets the standard for the omnichannel digital banking landscape, and for over three decades continues to deliver industry firsts and ensure reliable support from its Berkeley, California, headquarters. Learn more at AccessSoftek.com.   Access Softek Contact: Anna KhalzovaVP, Client Engagementachaykina@accesssoftek.com

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