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SmartMetric Reader Opens Biometric Market
January 21st, 2013 | Author: Stefanie Hoffman
You only have to look at news headlines to know that noise around unsafe passwords is reaching a critical mass.
Brute force password tools are readily available for download. And organizations such as Anonymous and other hacker collectives are not about to surrender their notoriety they achieve by hacking into corporate databases and posting scads of user passwords on public online white boards.
Going forward, all that FUD will likely open a gap for risky passwords solutions to eventually be supplanted with enhanced identity and authentication solutions.
It’s a trend that spurred the development of a new technology, developed by identity firm SmartMetric Inc., in the form of a biometric fingerprint reader that fits inside devices as small as credit cards.
The technology emerges as a bit of a disruptor by leveraging users’ fingerprints, used in lieu of passwords or PIN numbers to protect transactions on the 1.5 billion EMV banking cards issued globally. The solution is one of the manifestations of a ten-year research and development endeavor designed to create more secure alternatives to increasingly vulnerable password technology.
The fingerprint technology will manifest in products geared for the financial and online transaction sectors. And that could, in turn, potentially pave the way for the channel to further introduce biometric solutions in those and other vertical markets heavily reliant on security or tapped to adhere to mounting compliance regulations.
Now in general, biometrics haven’t gained the widespread adoption experienced by identity and authentication solutions – for a lot of reasons. Historically, as Channelnomics has previously pointed out, multi-factor authentication solutions, which often incorporate biometrics, has been perceived as cumbersome and complicated, while requiring too many moving parts.
However, the market is forecast to grow. A Reportlinker research report estimated that the biometric solutions market is slated to grow at a CAGR of 21 percent between 2012 and 2014.
Perhaps not surprisingly, the most salient target markets are Point of Sale, ATMs, border security divisions, military contractors and other government sectors that require official clearance and top security systems to guard classified and highly sensitive information.
And other reports have projected steady growth of biometrics in public sector arenas as more organizations forego passwords and other static mechanisms for more robust security defenses.
But with a rash of password hacks gracing news headlines, it’s possible that biometric solutions – such as the fingerprint credit card reader — could trickle to enterprise market segments, as well as retail, healthcare and other verticals
That ultimately could open up a few new avenues for solution providers, who could deepen industry ties while expanding compliance and other security portfolios with a new crop of biometric value-adds.
Related Articles:
CompTIA Names Community Leaders for 2013
Core Boosts Assessment With Password Cracking
Microsoft Deepens Cloud OS Pitch
Cisco Extends Jabber With VDI
Posted in Channel Business, Compliance/GRC, News, Security, Software | Tags: Anonymous, biometric, fingerprint reader, identity and access management, multi-factor authentication, SmartMetric
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