7 Critical Reasons for why it's the Era of Seamless Transactions!

Most of the recent studies suggest that the Covid-19 pandemic had accelerated the digitization of businesses, and today many businesses have pivoted and leaped way ahead of their legacy competitors.

“Covid-19 Accelerated the Facial Biometric Authentication domain”

In our recent engagements with many firms, we’ve noticed that most of the firms are rushing to convert their front-end validation and authentication systems to make their customer’s journey as seamless as possible. We’ve noticed that most of the customers are not keen to touch many of the public devices and this is mostly due to the fear of contracting the vicious Covid-19 virus.

“Customers will leave you for a better service”

Today, most customers compare the capabilities of their providers, and they are willing to churn for a better seamless service. This trend is occurring in almost all of the global markets, wither it’s the EMEA’s or the America’s markets. Most of the global players became aware of such a change and they are continually updating and upgrading their systems to adapt to such a change.

“Fintech’s are the key players in this domain!”

In recent months, we’ve noticed that the majority of the innovation in this field is coming from Fintech startups, many of those startups are rushing into this goldmine, and they want to strike massively from this opportunity.

“The Facial Biometric field is not a new field!”

While many FinTech’s are rushing into the Biometric authentication field, in the IT industry this is not a new field, and there has been an enormous amount of research in this field. In fact, there are a lot of pre-written libraries in this domain, which most of the new / fresh startups are using as the main corner stone of their solution, but we’ve noticed some advances in this field, such as the 2D and 3D face detections, plus the ability to detect the liveness of a person. Some providers were able to enhance their overall capabilities to detect and validate a customer’s identity even if they’ve got their mask on! which in my view, is a great advancement in AI and deep learning algorithms?

“Legacy Systems could kill your business!”

When it comes to legacy systems, I believe that the business needs to surgically work on upgrading either their integration layer or their API gateway. There are many open source “license free” API gateways, which the software development team can utilize to get their old legacy system communicate with any newly integrated Biometric devices.

Examples of FREE API gateways: WSO2, FUSIO, Gravitee or many more.

Plus, we advise most businesses to start rolling out some of their critical services via such API gateways, this way they can eventually transfer most of their business transactions into API type of transactions, giving the business the flexibility to integrate with many other technologies.

Therefore, by following the above-mentioned steps, the business will eventually be able to expose their back-end systems, and not to rely on the old technologies. Plus, in this case the firm can rollout event listeners to capture what’s passing through their API gateway. Such information is critical for business insights and the security and compliance of the corporate.

“Front end systems integration!”

Rolling such a solution “Biometric authentication” depends heavily on the ability to integrate such a solution with the front-end systems. This can be done either via API integration or SDK “Software Development Kits”. It all depends on the capabilities and versatility of your front-end systems.

“Corporate Culture is critical to roll things forward!”

When it comes to changing the way business is done, it’s critical for the company employees embracement and support in making such a change. We believe that the human factor is one of the most important ingredients to successfully roll out such capabilities. We believe some employees could impose a huge risk to such a change. Thus, we always recommend big firms to conduct awareness sessions to get all of the key stakeholders up to date with the reasons why such a change is critical for the success of the corporation as a whole. We believe that corporates’ inner knowledge and expertise are the key ingredients for success in corporations, and the employees need to understand the criticality of coping with new technological advancements.

“Either catch up with technological evolution or die! “

Stay tuned for our next articles on Facial Biometric authentication, or contact us for our solutions in this domain.