Skip to main content

The Quiet Revolution Spurred by Biometrics-as-a-Service


A recent study conducted by Research and Markets found that the current value of the biometrics-as-a service (BaaS) market is about 1.20 billion US dollars (2017) and is likely to see a rapid growth by 2023. This growth is driven by the fact that it is very much affordable, easy to integrate and no headache of maintenance associated with it. As a result, more and more small and medium-sized companies are going for it.
Let’s take for example the Safety Plus. They are high-quality loss control and safety management service provider for more than 150 companies nationwide. They were facing challenges to authenticate visitors within their premise and looking for an IAM (Identity & Access Management) system. They already had an access control solution of their own, so all they were interested in was to add biometric functionality to it. Also, they wanted portability without taking the burden of developing and maintaining a complete biometric system.
After a rigorous evaluation, they decided to go for a cloud-based solution and using biometric-as-a-service from M2SYS. After connecting to CloudABIS API, their risk of losing millions of dollars per year was minimized.
As industry-leading companies are starting to move toward the most secure way of human identification, a large number of small and medium scale companies are yet to adopt this technology. One of the main reason behind this is the required budget for implementation and maintenance of a biometric system.

How did biometrics-as-a-service become a reality?

Quickly after realizing the situation, the vendors of biometric industry have started offering the cloud-based biometric solution as a service at a very affordable price. This resulted in the implementation of biometric technology making it more accessible and convenient for the government and private organizations who were looking for security measures without pressurizing their operating cost. Read more…
Labels:

Comments

Post a Comment

Popular posts from this blog

Iris Recognition vs. Retina Scanning – What are the Differences?

In biometrics, iris and retinal scanning are known as “ocular-based” identification technologies, meaning they rely on unique physiological characteristics of the eye to identify an individual. Even though they both share part of the eye for identification purposes, these biometric modalities are quite different in how they work. Let’s take a closer look at both and then explain the similarities and differences in detail: Retinal Scanning:  The human retina is a thin tissue composed of neural cells that are located in the posterior portion of the eye. Because of the complex structure of the capillaries that supply the retina with blood, each person’s retina is unique. The network of blood vessels in the retina is so complex that even identical twins do not share a similar pattern. Although retinal patterns may be altered in cases of diabetes, glaucoma or retinal degenerative disorders, the retina typically remains unchanged from birth until death. (Source: Wikipedia) ...
1 comment
Read more

Biometric Authentication to Stop Money Laundering in Pakistan

Recently The State Bank of Pakistan has mandated all of its banks to start verifying all of their account holders using biometric technology. The goal of this exercise is to stop money laundering in Pakistan. In the past; opening a bank account only requires the account holder’s details in printed/written form along with their id cards. However, after this current announcement, to open a bank account in Pakistan, one has to provide biometric data using an e-registration system. This procedure is also applicable for those who have registered before without biometric verification process. Many private banks throughout the globe have already deployed biometric identification solution to reduce fraud at their banks. Biometric technology help banks to know their customers better and revolutionize their KYC process. After implementing the biometric solution from M2SYS for customer identification in the microcredit loan process, this helped Grupo Monge (Costa Rican Capital Corpor...
Post a Comment
Read more

Award Winning Biometric SDK for asp.net Application

To find an ideal biometric SDK for your asp.net application will always make your life and work much more easier. An ideal biometric SDK for asp.net application should be one that comes with – Support for reliable biometric scanners. Should have the capability of easy integration. Integration process should be rapid. It takes up a lot of time and also involves a painstaking process to integrate an SDK with an application properly, so if you don’t choose the right one, the entire deployment might face the risk of failure. The best solution for this sort of problem is to use an SDK that will easily integrate with the asp.net application. Hence, the question is where to find such a solution that have the best capabilities to do such integration? The answer to this problem is pretty simple and you can check it out here.
Post a Comment
Read more