AI Biometric Security & Alternative Data Sets for Financial Services

Panel entitled, "AI Biometric Security & Alternative Data Sets for Financial Services." Panelists include: Rick Zois, Transunion; Eduardo Dias, LendFoundry; Supriti Singh, FICO; Moderator: Ben Narasin, Canvas Ventures. Recorded at LendIt USA 2017.

Biometrics is still an evolving technology where adoption rates and implementations vary around the world; TransUnion discusses their deployment of biometrics in India using fingerprints which are centralized through the government; since it was mandated by the Indian government, adoption rates are high compared to other implementations such as TransUnion’s deployment in South Africa using voice biometrics; biometrics can significantly reduce the friction of identity verification by cutting down back office work and providing a better user experience; however the panel also discusses some obstacles such as the lack of a central repository in the US as well as privacy concerns that are key to achieving increased adoption; panelists also discuss two factor authentication and other techniques they are using along with biometrics to verify identity.