The next level of security for accessing bank services can be tied down to your eyes—using an iris scanner.
Samsung Securities, one of the Samsung Group’s financial business units is in talks to provide hassle-free authentication using its latest biometric technology—iris scanning, which is featured in Samsung’s current flagship Galaxy Note 7.
The biometric technology will lift the burden off customers from remembering passwords, card numbers and even PIN numbers for their cards, bank accounts and much more.
According to a report by Korean Herald, Samsung Securities on August 26 said that it will adopt a stock trading system next month allowing customers to authenticate themselves with iris scanners fitted in Samsung Electronics’ smartphone, the Galaxy Note 7, launched on August 2, 2016.
“The identification through the Note 7’s iris scanner, along with the public digital authentication certificate, will be available on Samsung Securities’ mobile trading system,” said Samsung Securities.
Though, some banking services sports fingerprint scanning technology, it is still considered an insecure method, as anyone can still get past it using a fingerprint from your surroundings and creating a replica of it. The initiative to use iris scanning technology is highly secure compared to the fingerprint scanner, as no two people can have an identical iris pattern, and can be seen implemented by many banks for authentication in the near future.