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Biometrics in Financial Services Webinar - Parts 1 and 2

  • Global
  • Technology
  • Financial services
  • Financial services - Digital Financial Services
  • Financial services - Payment services
  • Technology, Media and Telecoms

29-06-2021

On 20 May 2021, Eversheds Sutherland hosted the first webinar in a two-part series discussing the use of biometrics in the financial services industry. This discussion was chaired by Nasser ali Khasawneh, Co-head of Global TMT. The panel also included partners from Eversheds Sutherland - Tony Anderson, Gayle McFarlane, Rhys McWhirter - and Tim Burton, VP and Global Head of Solution Engineering at Callsign.

Tim opened the webinar by providing a high-level overview of what exactly biometrics (an industry now worth around $4m) are and how biometrics can play a significant role within the financial services industry. Tony discussed with the panel exactly how the FCA has reacted to the use of biometrics in the industry.

Gayle gave insight on the main issues with the roll out of biometrics within the financial services industry related to the concerns regarding data privacy. Rhys discussed how there has been a significant rise in the use of biometrics within Hong Kong and China, which remains the global capital of payment biometrics. Rhys explained how Hong Kong had seen a significant development in the use of biometrics for onboarding customers to banks in a matter of minutes. This ties directly with the expansion of virtual banking in Hong Kong deployed by many of the challenger banks catalysed by the travel and face to face restrictions resulting from the pandemic which now seems to be the method of choice for the modern consumer.

Watch part 1

On 29 June 2021, we hosted our second webinar on Biometrics in Financial Services, with guest speakers from Thales and Bio-Key International. Our panellists discuss the technical side of biometrics themes on issues developing in the US Financial Services sector and the importance of establishing trust with consumers to enable biometric solutions to be developed and adopted in the payments space.

Watch part 2