Singapore is the world leader in the introduction of biometric fingerprint authentication technologies to determine the identity of clients in the financial services sector, as confirmed by the recent international study "Leaders in Financial Services." The study was conducted by the consulting firm Forrester Consulting.
The survey involved 315 companies in Singapore, China, the United Kingdom and the United States. Analysis of the results showed that more than 61% of Singapore's financial companies use two-factor identification of customers, which takes fingerprints into account. The next in terms of the extent of this technology was China. Here, fingerprints are used by 57% of corporations. In Australia, biometrics is distributed in 50% of companies, in the UK - 40%, in the USA - 37%.
About 56% of respondents from Singaporean firms said they either implement voice authentication, or plan to do so. For comparison: in Australia - 52%, China - 49%, the USA -49%, Great Britain - 33%. Thus, the study showed that biometric identification of customers is widespread among financial firms around the world, but Singapore sets the tone in this direction.
GBG Managing Director Glenn Porter said: "Although Singapore leads the way in the introduction of advanced biometric technologies, firms need to innovate more and more innovative solutions based on biometrics to remain competitive and meet the growing expectations of customers."