Behavioral biometrics are attractive because they are easy to implement, hard for criminals to spoof and not subject to the same privacy protections applied to thumbprints or retina scans.
Employees at the second-largest Indian bank falsified documents in a scheme that ultimately cost the institution at least $2 billion. Some argue a distributed ledger would have helped prevent or minimize the fraud.
The Berlin company hopes to shake up the U.S. market with real-time, mobile-first, millennial-friendly banking, and the new infusion of cash from Allianz and Tencent will help.
The main problem is that Amazon's Alexa, Apple’s Siri and Google Assistant can’t yet verify a person’s identity. But there are already workarounds for that issue — and the tech giants may solve it soon.
The bank’s distributed ledger for private equity deals can now provide nodes to auditors, so they can easily access documents and data for their annual reviews.
Legacy financial firms like the big credit bureau are seeking out financial technology to diversify themselves, bring new products to market faster and meet the needs of global customers.
