Aite Group studies fraud management, banking trends and biometrics
"While biometric technologies have been around for some time, new drivers such as an increased focus on security, new guidelines set by the FFIEC and a growing number of successful pilots around the globe, may be just what this technology needs to finally take off."
Christine Barry - Research Director
In a new report, research and advisory firm Aite Group presents 13 competitive trends reshaping the fraud management industry. The report makes recommendations to financial institutions to take advantage of vendors' emerging value propositions and mentions 24 firms, including CheckFree Corp., eFunds Corp., Harland, ID Analytics Inc., Pay By Touch, PaymentOne Corp., Primary Payment Systems Inc., and Retail Decisions.
In a separate report, Aite highlights the top 10 U.S. banking industry trends that it foresees in 2006. Although risk and compliance issues will remain at the forefront, Aite predicts that banks will better leverage the Internet to attract new customers and cross-sell to existing ones and battle at the POS to deliver more value to merchants and consumers.
Aite also released a report examining the security environment at financial institutions and the factors driving interest in biometric technologies. Only about 5% - 7% of financial institutions have deployed biometric technologies.
The study predicts that although that number has remained low, the technology is well positioned to take off over the next few years, especially at the POS and bank teller stations.
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