Biometrics: Indispensable In Today's Digital Economies

Biometrics is a technology that leverages the core human feature of no-two-humans-are-100%-the-same to beat personal identity issues, especially in fraud cases. It uses physical characteristics, such as fingerprints, facial recognition, and iris scans, to identify and authenticate individuals. 

This technology is becoming increasingly important in today's digital economies, as it provides a secure and reliable way to verify a person's identity. 

Biometrics can be used to protect sensitive data, prevent fraud, and ensure that only authorized individuals have access to certain systems or resources. 

Additionally, it can be used to streamline processes such as payments, access control, and identity management. 

By using biometrics, organisations can reduce the risk of identity theft and data breaches, while also providing a more convenient and secure way for customers to access their accounts. 

In a recent development, the Founder and Chief Executive Officer of iiDENTIFii, Gur Geva, said that biometric technology is crucial to Nigeria’s digital economy. 

According to him, with proper biometrics tech, financial institutions could provide safe and efficient services to consumers in the country at scale, and improve financial inclusion.

“Biometric technology is a crucial consideration in Nigeria’s ongoing digital expansion.

“If financial institutions, telecommunications companies, and the public sector adopt enterprise-grade biometric authentication, they can provide services to Nigerian consumers safely, efficiently, and at scale.”

He explained that biometric authentication technology was changing how individuals identified with mobile devices.

With technology, banks, insurers, telecommunications companies, and government institutions could ascertain that the person on the other end of the screen was identifiable, verifiable, and human.

Geva added, “As the only IDV company in Africa that provides enterprise-grade level services, we understand the far-reaching benefit of biometrics in protecting the assets of companies and consumers and fighting financial crime.

“We believe the requirement for digitized biometric authentication in Africa is immense.

“The region is a sleeping giant when it comes to accessing traditional bank accounts, digital banking, and affordable financial services.”

He noted that with the country’s high number of active mobile subscriptions, digital adoption needed to be met with intentional digital security measures. 

According to him, an inclusive digital identity approach could open doors to critical government services in the country such as labour markets, government benefits, and financial services.

“The digitally excluded are missing out on access.

“Without access, the keys to both social and financial inclusion are unreachable.

“Those who do not have access to newer technologies are disadvantaged in healthcare, education, and financial support.

“These areas have a significant negative impact on an individual’s overall quality of life.

“For this reason, we actively consider unserved and underserved communities in our solutions."