With security breaches surfacing at an alarming rate, it’s no surprise that financial institutions are searching for an alternative to the traditional password. This recent CNBC segment, “Biometrics and mobiles: Banking’s future?” is part of the series titled “Industrial Revolutions” and focuses on technologies that are revolutionizing the banking industry. The first half of the segment is dedicated to biometric authentication technology, noting that “as security breaches become ever more common, major companies are advising users to change their passwords on a frustratingly regular basis.” Nuance is featured as a “multinational software technology company [whose] voice recognition technology is being adopted by financial institutions throughout the world.”
Watch the news clip and you’ll see that CNBC drives home an important point. The way we do banking is set to change as technology adapts to fit the needs, wants, and expectations of consumers.