Acuity Market Intelligence forecasts that by 2022 more than 5.5 billion biometrically-enabled mobile devices will create a global platform that supports one trillion Cloud-based biometric transactions annually. Acuity expects Cloud-based biometric solutions to drive the mobile biometric market to $50.6 billion in annual revenue by 2022.

The combination of contactless payment cards and fingerprint technology increases both security and convenience for payments. There is a great interest from customers and the industry to start using biometric payment cards. It brings a new level of convenience to consumers, while providing higher security by replacing pin codes, thus minimizing the risk of identity theft and fraud.

Liveness detection is increasingly playing a significant role in the digital identity process. Remote on-boarding has it's challenges for many companies and can be a long winded process for new customers that usually involves lots of paperwork or trips to the local branch to prove you are real and you hold a genuine passport, driving licence or ID card. Know your customer (KYC) is a crucial element and solving the digital on-boarding issue is a priority for everyone.

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