4 Impressive Benefits of Biometrics in the Modern World
Biometrics has become an essential system in the modern world, owing to the increased efficiency, conveniency, and security. Thus, they have their applications in various places like schools & colleges, offices, residential premises, banks, ATMs, law enforcement, airport security, public transport, blood banks, home assistants, and many more.
Numerous companies across the globe are incessantly implementing biometric security scanners for their employees in order to provide maximum security to protect the vital information and workings of the company. Different firms have different set of security procedures based on the firm being SMEs (small and medium enterprises) or large enterprises. Hence, the security would be more severe in large enterprises to prevent any intrusion or breach of crucial data about the company or their customers.
Biometrics are also extensively used in most of the modern schools and colleges these days in order to permit access to only pupils and authorized adults within the school premises and take effective security measures to maintain the safety of the students and their pivotal data.
Banking is another area where biometric security is abundantly used in order to maximize security whilst providing a seamless experience to the customers. Japan has already rolled out the trial of facial recognition at ATMS which would be implemented as an auxiliary level of security to authorize if the user of a particular card is the owner of that card. This has emerged amid increasing concerns about identity thefts and inconvenience with repeatedly having to prove the identities among customers. Thus, with the surging rate of globalization, more and more banking organizations are implementing effective biometric security solution to tackle frauds, cyber-crimes, and increase transaction security.
According to the report published by Research Dive, the global biometrics market is expected to generate a revenue of $104,959.6 million by 2028, growing tremendously at a CAGR of 15.0% during the forecast period 2021-2028.
What is Biometric Security?
Biometric security is an effective security mechanism that tends to identify people by verifying their behavioral or physical characteristics that remain perpetual overtime like voice, fingerprints, hand patterns, retinal patterns, and facial recognition. It is one of the most secure and precise physical security techniques that is used for identity verification. If anybody tries to access the system, the biometric security system thoroughly scans, evaluates the characteristics, and proceeds to match them with the registered records. Afterwards, if a match is found, only then the individual is given access to the device or facility.
4 Advantages of Installing a Biometric Security System
Biometric security systems provide a bunch of distinctive benefits, and hence, more and more companies across the globe are installing biometric systems for enhanced security and easy entry & exit tracking. Some of the prime reasons why biometric is pertinent for digital identity security are given below.
- Provides Increased Accountability
Biometric security system tracks and provides precise information about the entry and exit of the employees, favoring easy data tracking in case of unfortunate events. Hence, the data can seamlessly be configured, analyzed, or reported as and when necessary.
- Increases Efficiency Among Employees
Employees don’t need to carry any type cards or enter long password in order to gain access in any device or facility. Biometrics also eliminate the need to change or reset any password if it potentially becomes known to any other person. Hence, employees can simply gain access to the facility or system within a matter of seconds through fingerprint, retina scan, or facial recognition.
- Increases the Chances of Profitability
Implementation of an advanced biometric security system saves a lot of time among employees to login inside their office, enabling them to put in more effort in their tasks to favor the growth of the company they are working for. In addition, no supplementary investment in capital is required, once the biometric security system is integrated. This substantially reduces upfront and ongoing investment costs. This drives the chances of profitability with minimum investment on biometrics.
- Provides Maximum Security
Cards and pass codes can be easily obtained by people, making it easy for intruders to access the premises. On the other hand, with the installation of efficient biometric security systems, only registered members can access the device or premises through fingerprint, iris scanning, facial, or voice recognition. Thus, biometrics appreciably prevent frauds and illegal entries.
The Way Ahead for Biometrics
There has been a colossal increase in the construction of schools, colleges, commercial buildings, banks, wealth management offices, and others hence, the demand for biometrics in these places is innumerable due to the need for protection of vital data about the customers and the institution. In addition, rising penetration of smart phones and increasing prevalence of biometric systems in smart phones will create immense opportunities for the growth of the global biometrics market in the coming years.