20o December 2021

Could biometrics bridge the financial inclusion gap?

Biometric technology could overcome the twin barriers of inaccessible payment methods and proof of identity.

Simon Binns, our Chief Commercial Officer, considers the role of biometrics in helping to close this gap – and whether it could meet the needs of society’s most hard-to-reach individuals.

Try to open a bank account today and one of the first things you will be asked to provide is proof of ID and your address. It’s a simple request, and one that many of us take for granted.

Though seemingly basic, these requirements aren’t practical for many people. Some estimations suggest that approximately 1.7bn adults are currently considered ‘financially excluded’ – those without access to banking services, such as current accounts.

Read the full article in here in Biometric Update.