Connect with us

Big Data

Biometric smart cards and civic digital identity apps to redefine wallets

Published

on

Biometric smart cards and civic digital identity apps to redefine wallets

By Chris Burt

The advance of biometric smart cards for digital identity and payments, and their eventual replacement by apps in the former case, is the top theme of the week’s biometrics news. Even in an industry somewhat numbed to enormous growth forecasts, there are some sizeable numbers being projected in digital ID app use and potential addressable card fraud. Facial recognition improvement efforts and controversy also made headlines.

A pair of new smart card solutions, one with multi-modal biometrics for access control and payments from CrucialTrak, and a ‘Converged Card’ from Idemia and Mastercard that combines a government ID, like a mobile driver’s license, with payment functionality, made up the top news story of the week on Biometric Update.

Contactless biometric retail payments are on the rise, whether with fingerprint-enabled cards, which Idex Biometrics argues could cut down the $10 billion banks lose to card fraud each year, or with palm biometric scanners, as Amazon is exploring.

An oversubscribed private placement and subsequent offering from Zwipe has wrapped up, with the company raising roughly $11.6 million in total to position itself in the commercializing fingerprint payment cards market. Several primary insiders invested during the subsequent offering to maintain their stakes in the company, and could have placed an additional 1.5 million shares if the offer shares had not run out first.

National ID cards are also in the news, with Nepal finding a way around the delays to its biometrics enrollment project caused by the pandemic and Croatia tabling legislation to issue cards for regional use. Meanwhile, Iran has produced 2.6 million ID cards in-country, replacing formerly imported cards, and Ghana has launched biometrics services for passports at its embassy in Rome.

Five years from now there will be more than six billion digital identity apps in use around the world, up from just over a billion today, according to a Juniper Research forecast. The research also suggests that those civic identity apps will be their predominant form, and that there will be 40 percent more digital ID apps than cards by 2025.

Mastercard’s work on biometric immunization record service Wellness Pass is an example of the company’s transition to a technology firm, as Executive Vice-President Ken Moore explains to Computer Weekly. The company’s experience with regulations and business models relying on volumes of small fees give it a big advantage in the broader financial services sector.

Onfido CEO Husayn Kassai puts the widespread switch to digital banking through smartphones into historical and technological perspective and talks fraud with tresorit’s Under CTRL podcast. Some basics like the difference between artificial intelligence and machine learning, and how specifically they are applied in biometric identity verification, are clearly explained along the way.

Michigan State University biometrics researcher Sixue Gong explains a method for de-biasing facial recognition described in a research paper written with Xiaoming Liu and Anil Jain in an interview with Biometric Update. The idea is one of several promising attempts to move beyond improving training dataset balance to address the problem, which Sixue says is necessary.

The terrorist attacks recently carried out in France have prompted some politicians in the country to call for the adoption of increased security measures, with public facial recognition among them. With the assailants not held in law enforcement databases, however, it is unclear how this might have helped in this case.

The EU’s Data Protection Supervisor has other ideas, and expressed support for a moratorium on new biometrics deployments pending the results of “an informed and democratic debate” in an opening keynote at the 2020 Biometrics Institute Congress. With several major incoming biometrics systems in Europe, Wojciech Wiewiórowski says people need to engage and check assertions about the technology.

In the final session on day two of the International Face Performance Conference (IFPC), Patrick Grother, NIST’s lead biometrics researcher, presented a pair of ISO/IEC standards in development, for face aware image capture and facial image quality. Together, the implementation of the standards could improve the operational performance of facial recognition systems, helping the detection of presentation and morphing attacks.

ITPro examines the threat of deepfakes and its potential remedies in conversation with representatives of iProov, Okta, Enterprise Research, the Institution of Engineering and Technology (IET) and other organizations. The problem has the industry’s attention, but it also represents an opportunity for criminals and other malicious actors, so deepfake detection technology may be part of a developing arms-race, but public awareness could also help.

Public awareness is also a tool that can help reduce the potential harms of the “coded gaze,” Joy Buolamwini tells the Ted Radio Hour, per American University Radio. Buolamwini talks in this case more about predictive and hiring algorithms than facial recognition, but the reuse of common tools in AI development, which is where disparities and unfair outcomes seem often to arise, happens in each application.

Disparities among training datasets is the main culprit, but tuning with counterfactual modeling or adversarial debiasing could help further the equitability of AI, according to a review of the issue in The Wall Street Journal. Persistent challenges remain difficult to even begin addressing, however, such as reaching a broad enough agreement on what constitutes fairness in a given situation.

The three top priorities for improving ethics within the tech industry are good regulations, increased diversity, and bridging the divide between the people who develop technology and those most impacted by it, All Tech is Human Founder David Ryan Polgar says in a interview with Information Age. The interview was published ahead of a webinar as part of the publication’s Responsible Technology Series.

Despite a biometric voter verification system, Tanzania’s election is being widely viewed as illegitimate, with allegations of voter roll tampering and significant internet and social media outages. The country has been an African leader in biometrics, but faces a difficult road ahead.

The Ada Lovelace Institute looks into the concept of non-personal data as defined in India’s Personal Data Protection Bill, and finds it is both unclear and overly prescriptive. Non-personal data is also unregulated in India, and as the Bill makes sharing it with the government mandatory, the Institute has some recommendations and points for consideration.

If you would like to share an article, podcast, video or other media with the biometrics and digital identity communities, please let us know in the comments below or through social media.

Source: https://www.fintechnews.org/biometric-smart-cards-and-civic-digital-identity-apps-to-redefine-wallets/

Big Data

U.K.’s Wise to join the New Payments Platform in Australia

Published

on

SYDNEY (Reuters) – Digital money transfer group Wise Plc will join an Australian payments network which should allow transfers to be settled in the country faster and at lower cost, Chief Executive Officer Kristo Kaarmann said on Friday.

The company will become a direct participant and shareholder in Australia’s New Payments Platform (NPP), Kaarmann said.

Wise said that joining the NPP will allow it to lower its average price of money transfers in or out of Australia by bypassing middlemen to clear and settle real-time payments instantly.

Kaarmann did not say how much lower its rates would be after joining the NPP. It charges about 0.56% on its Australian transfers currently, the company said.

That compares with the average 5% to 6% the country’s major banks charge, according to Wise’s calculations.

The 10-year old financial technology company is regulated in Britain, the United States, Singapore, and among others, Australia, where it also holds a banking licence. But in many of the over 80 countries where it offers remittances, Wise partners with banks to hold deposits, which increases its costs and prices.

“Our average cost … is already many multiples cheaper than the banks,” London-based Kaarmann said. “We want to get as close to zero as possible, in terms of cost.”

The firm, whose market debut in July became the London stock exchange’s largest ever tech listing, estimates it handles about 1% to 2% of transfers by consumers and small and medium-sized businesses globally.

(Reporting by Paulina Duran in Sydney; Editing by Christian Schmollinger)

Image Credit: Reuters

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://datafloq.com/read/uks-wise-join-new-payments-platform-australia/18166

Continue Reading

Big Data

Google to slash amount it keeps from sales on its cloud marketplace- CNBC

Published

on

(Reuters) -Alphabet Inc’s Google will take a smaller cut when customers buy software from other vendors on its cloud marketplace, CNBC reported on Sunday.

The Google Cloud Platform is cutting its percentage revenue share to 3% from 20%, CNBC said, citing a person familiar with the matter. https://cnb.cx/2XZp7ep

“Our goal is to provide partners with the best platform and most competitive incentives in the industry. We can confirm that a change to our Marketplace fee structure is in the works and we’ll have more to share on this soon,” a Google Cloud spokesperson said in a statement to Reuters.

Earlier this year, Google cut the service fee it charges developers on its app store by half on the first $1 million they earn in revenue in a year.

(Reporting by Juby Babu in Bengaluru; Editing by Daniel Wallis)

Image Credit: Reuters

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://datafloq.com/read/google-slash-amount-keeps-sales-cloud-marketplace-cnbc/18165

Continue Reading

Big Data

Canada foreign minister says eyes wide open when it comes to normalizing China ties

Published

on

TORONTO (Reuters) – Canada’s “eyes are wide open” when it comes to normalizing its relationship with China, Foreign Minister Marc Garneau said on Sunday, after three years of rocky ties with Beijing since the arrest and Friday’s release of a Huawei Technologies executive.

Garneau told CBC News the government is now following a four-fold approach to China: “coexist,” “compete,” “co-operate,” and “challenge.”

Huawei CFO Meng Wanzhou, the daughter of Huawei founder Ren Zhengfei, flew back to China after reaching an agreement with U.S. prosecutors to end a bank fraud case against her. That resulted in the scrapping of her nearly three year extradition battle in a Canadian court.

Soon after Meng flew to China, Michael Kovrig and Michael Spavor – the two Canadians detained by Chinese authorities just days after Meng’s arrest in December 2018 – were released by Beijing.

“There was no path to a relationship with China as long as the two Michaels were being detained,” Garneau said.

Prime Minister Justin Trudeau and Garneau received the two Canadians on Saturday when they arrived in the western Canadian city of Calgary after spending more than 1,000 days in solitary confinement.

Trudeau, who won a third term on Sept. 20 election after a tight race, had vowed to improve ties with China since he first became prime minister in 2015, building on his father’s success in establishing diplomatic ties with China in 1970.

But even before Meng’s arrest, Canada’s repeated questioning of China’s human rights issues has irked Beijing, and the two countries have failed to come closer.

China has always denied any link between Meng’s extradition case and the detention of the two Canadians, but Garneau said, “the immediate return of the two Michaels linked” it to Meng’s case in a “very direct manner.”

Garneau also said he didn’t think the timing of the men’s return had anything to do with the timing of the federal election.

“I think it just worked out that way.”

(Reporting by Denny Thomas; editing by Grant McCool)

Image Credit: Reuters

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://datafloq.com/read/canada-foreign-minister-says-eyes-wide-open-comes-normalizing-china-ties/18164

Continue Reading

Big Data

EU says U.S. trade, tech council to boost its clout, set rules for 21st century

Published

on

By Foo Yun Chee

BRUSSELS (Reuters) – The U.S.-EU Trade and Technology Council (TTC) will give Europe more clout and set standards and rules for the 21st century, the EU’s trade and digital chiefs said, underscoring global concerns about China’s growing power.

The comments by Valdis Dombrovskis and Margrethe Vestager came ahead of the first TTC meeting in Pittsburgh on Wednesday and as the United States and Europe face off with China in areas ranging from trade to defence to technology and human rights.

“There is real strategic and geopolitical importance to this new platform as a way in setting standards and rules for the 21st century. So we need this Council to amplify our status,” Dombrovskis told reporters.

Dombrovskis insisted, however, that the platform was not targeted at any particular country.

“TTC is not about any specific third country, it is about cooperation and coordination on a number of policy areas between the United States and the EU,” he said.

The Council’s 10 working groups will focus on technology standards, green technology, supply-chain security, data governance, export controls, investment screening and global trade issues, among others.

All these areas are key for the EU, Vestager said.

“What we have achieved is a package that covers, I think, both offensive and defensive interests,” she told reporters.

Dombrovskis said French fury at Australia’s decision to scrap a $40 billion submarine deal for one with the United States and Britain should not deflect the EU from its long-term interests.

“We are allies, partners and friends, and yes friends can easily from time to time make mistakes and we have seen this in recent weeks, but we knew this issue should not cloud our judgment on our strategic alliances,” he said.

U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo and Trade Representative Katherine Tai will be the co-chairs of the meeting with Dombrovskis and Vestager.

The EU hopes to hold a second meeting next spring in Belgium.

(Reporting by Foo Yun Chee; Editing by Catherine Evans)

Image Credit: Reuters

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://datafloq.com/read/eu-says-us-trade-tech-council-boost-clout-set-rules-21st-century/18163

Continue Reading
Energy4 mins ago

A Keystone Turbine Services obtêm dupla certificação de teste M250-C47E

Energy4 mins ago

Keystone Turbine Services obtiene la certificación de prueba para el motor dual M250-C47E

AR/VR2 hours ago

Resident Evil 4 Brings Survival Horror to Oculus Quest 2 in October

Blockchain2 hours ago

Iran To Lift Cryptocurrency Mining Ban In September

Cyber Security2 hours ago

Galaxy S17

AR/VR3 hours ago

UK VR Hydrotherapy Centre Seeks Crowdfunding Support to Continue Special Needs Care

Cyber Security3 hours ago

How To Connect AirPods To Lenovo Laptop?

Cyber Security3 hours ago

Bitdefender Ransomware Vaccine

Esports3 hours ago

Fan creates crossover between LEC and Jujutsu Kaisen

Esports3 hours ago

Fan creates crossover between LEC and Jujutsu Kaisen

Esports4 hours ago

eBRO Gaming will represent Latin America in the Wild Rift: Horizon Cup

Esports4 hours ago

eBRO Gaming will represent Latin America in the Wild Rift: Horizon Cup

Esports4 hours ago

How to Access New Missions in Death Stranding Director’s Cut

Esports4 hours ago

How to Access New Missions in Death Stranding Director’s Cut

Energy4 hours ago

EQT Appoints Frank C. Hu To Board Of Directors

Energy4 hours ago

EQT Appoints Frank C. Hu To Board Of Directors

Energy4 hours ago

Dozuki Secures Strategic Investment from Marlin Equity Partners to Support Manufacturing Workforce Performance

Energy4 hours ago

Dozuki Secures Strategic Investment from Marlin Equity Partners to Support Manufacturing Workforce Performance

Energy4 hours ago

Luminex Announces Anglo American Pegasus Joint Venture Update

Energy4 hours ago

Luminex Announces Anglo American Pegasus Joint Venture Update

Energy4 hours ago

Consumers Energy Expands Home Charging Options For Electric Vehicle Drivers With New Program

Energy4 hours ago

Consumers Energy Expands Home Charging Options For Electric Vehicle Drivers With New Program

Esports4 hours ago

How to Get D Medals in Dragon Ball Z: Kakarot

Esports4 hours ago

How to Get D Medals in Dragon Ball Z: Kakarot

Esports4 hours ago

HLTV Confirmed with Machine: Who will qualify for the Major through IEM Fall?

Esports4 hours ago

HLTV Confirmed with Machine: Who will qualify for the Major through IEM Fall?

Energy5 hours ago

Machine Tools Market Size to Reach $95,169.1 Million by 2027 | CAGR 4.7%: Exclusive Report by Astute Analytica

Energy5 hours ago

Machine Tools Market Size to Reach $95,169.1 Million by 2027 | CAGR 4.7%: Exclusive Report by Astute Analytica

Gaming5 hours ago

SCCG & PlayCaller Sports Announce Partnership

Esports5 hours ago

Team Queso wins Wild Rift Origin Series Championship to qualify for the Horizon Cup

Trending