(PharmaNewsWire.Com, August 13, 2018 ) Vein recognition biometrics is gaining importance in the BFSI sector for applications such as logical access control, physical access control, mobile banking, branch banking, kiosks, ATM, and safe deposit locker. Vein recognition biometrics is used for security purpose in the BFSI sector to protect customers from data breaches and identity theft.
The demand for highly reliable and accessible personal authentication and identification systems is increasing in the BFSI sector because of the growing instances of security vulnerabilities and transactional fraudulent in this sector. Biometrics is a suitable and reliable solution as it is based on the behavioral and physiological characteristics of an individual, which is difficult to replicate. Biometrics involves the identification, verification, and authentication of an individual by evaluating one or more unique biological traits such as voice, hand geometry, DNA, gait, fingerprint, facial expression, and vein recognition. Biometrics is considered to be more reliable than physical devices and numeric codes as biometric traits are not prone to any change.
This report covers the present scenario and the growth prospects of the global vein recognition biometrics market in the BFSI sector for the period 2018-2023. To calculate the market size, the report considers revenue generated from the sales of vein biometric solutions including hardware, software, integrated solutions, and services offered in the BFSI sector. Revenues generated from aftersales services are not included to calculate the market size.
The data included in this research report includes detailed explanatory passages about the growth trajectory that the global Vein Recognition Biometrics in BFSI market has taken. The report additionally marks the factors that influence the global Vein Recognition Biometrics in BFSI market in the form of trends, drivers, restrictions, and potential opportunities. In that context, the report is highly applicable to both new entrants in the global market as well as the older ones which have been successful in this market for a considerable time.
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