Challenger banks and biometrics; what, how and why? Our infographic paints the picture of drivers and obstacles, and the opportunities beyond.
Following the financial crash that commenced in 2007, the banking sector has experienced dramatic change. Digitisation, competition-stimulating regulation and a fundamental shift to a customer-first approach have re-landscaped the sector, with more than 50 new banking licences granted since the collapse and an explosion of digital-only challengers unencumbered by legacy systems and process.
Biometrics are now playing a major role in user authentication, not only to combat fraud but to reduce onboarding times and use technology more aligned to today’s consumers. In this new infographic, we look at what will disrupt the disruptors, the opportunities that lay ahead, and the role that biometric authentication can play in pursuit of the perfect customer experience for challenger banks.