Banks can benefit from many opportunities in the age of digital. Banking institutions can now offer services online and will be able to utilize digital signature technology to make sure that transactions are secure and safe. Digital signature verification reduces the risk of fraud since handwriting is reduced to a reasonable amount.
Biometrics technology that authenticates identity is far more precise than the prior generation. But, it’s still important to be aware of the process biometrics had to go through. This article will explain more about the history of biometrics’ creation and its advances.
The 1960s – Exploration
The banks and other government agencies employed facial recognition systems that semi-automatically authenticate the identity of individuals in the 1960s. Manually operated, administrators analyze facial features and remove useful feature points from photographs. Nine years later, Federal Bureau of Investigation (FBI) funding resulted in the development of fingerprint identification to strengthen the law of the land against crime.
The 1970s and 1980s: FBI Funding
Biometrics’ technological advancements were made during the 80s. The technology that relies on speech recognition to detect commands and voices was investigated by the National Institute of Standards Technology (NIST). In 1985, the biometrics behind iris recognition came to be well-known after researchers discovered that there are distinct blood vessels within our eyes that could be used for biometric authentication.
The 1990s: Biometric Science Gains Traction
The National Security Agency (NSA) was created in the late 1990s. It was at the time of the growth of biometrics in science. Even though it was flawed, real-time recognition was possible with the invention of the algorithm for face recognition. This was made possible with the help of the Defense Advanced Research Products Agency or the Department of Defense.
The 2000s: The Rollout of Biometric Technology
International Organization for Standardization (ISO) created the basis for collaboration to develop biometrics standards that can be utilized worldwide.
At the beginning of 2000 in the early 2000s, hundreds of biometric systems like biomarker patents and palms were made available to massive commercial events. Face recognition was acknowledged as a biometric authentication method for passports and Machine-Readable travel Documents (MRTDs).
Additionally, Computer Engineering and Biometrics Systems Engineering were added to the Bachelor’s Degree programs at West Virginia University. Here is a list of programs.
Biometric science is a growing research field. Biometric science is now being integrated with artificial intelligence technologies in order to create seamless authentication, including for a Visa delegated authentication program.
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