EyeVerify launches its ID verification solution based on each individual user’s eye-vein pattern enabling mobile authentication and access to sensitive data. The beta version of the app in iOS and Android is currently being tested and should be rolled out beginning 2013.
Uniquely positioned, the app relies on the smartphone’s embedded cameras and does not require any additional hardware (sensor or token); it may be applied to several sectors including m-banking, healthcare and even secure connection to professional networks.
Source: Press release
EyeVerify trusts that the recurring issues originated by the increasing
number of accounts and passwords per users may be addressed through
implementing such solutions. Especially targeted, the banking sector
proposes mobile apps with access to highly sensitive data, too.
to Aberdeen Group, ID thefts would have accounted for 221 billion
dollars in losses last year. These fraud cases keep increasing today,
impacting over 10 million people each year. Biometric solutions might
take the lead before other authentication methods generally involving
additional devices. EyeVerify believes that the ever-present mobile
media and the part they play in several players’ strategy should be of
help for them to grasp a piece of the authentication market (see
February 2012 Insight).
Two main innovative trends are growing
popular these days: biometrics and external token-like devices. Identive
Group for instance has just launched an Apple-dedicated smart card
reader allowing user authentication (secure networks, online accesses,
payments, etc.). Having to deal with the institutions’ fears regarding
the Bring Your Own Device issue, Identive has also applied for inclusion
on the U.S. General Services Administration’s Approved Product List.
also springs from the manufacturing sector, now focusing on identifying
their own users and considering biometrics to these ends. Sony and
Apple among others have for instance had their unlocking features
patented. Apple’s integrated solution designed with AuthenTec (recently
purchased for roughly 365 million dollars) shows efforts towards mobile
transactions markets (see April and August 2012 Insights).