Wells Fargo plans to implement such biometric technology for corporate customers by July. The technology uses software from EyeVerify that scans and authenticates users’ eye prints, according to the report.
WSJ cites a Tractica report that estimates the value of biometrics in the financial services industry is expected to grow from $126 million in 2015 to $2.2 billion by 2024, calling the human body “the next security frontier, where physical traits from walking gait to personal heart rhythms can be used to identify individuals.”
But until biometrics can be easily integrated on full ecosystems of technologies instead of just mobile devices, the traditional, typed passwords will stick around, according to the report.
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