Leumi Card Implements Mobile Authentication Based on Behavioral Biometrics
- SecuredTouch allows mobile user identification based on finger size, touch pressure, touch surface and more.
Bank Leumi, one of Israel's largest banks, today announced that its credit card subsidiary, Leumi Card, will introduce the integration of a mobile security product based on behavioral biometrics. Based on the technology of Israeli Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few. A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few. Read this Term SecuredTouch, the solution embedded in the Leumi Card app will provide an advanced layer of security to its customers and will eliminate the need for complex passwords.
SecuredTouch's technology allows user identification based on a unique personal usage profile within the mobile device, including such attributes as finger size, touch pressure, touch surface and more. By verifying the profile, Leumi Card will be able to identify, in real time, whether the card owner is the one operating the app.
Ohad Maimon, EVP, Leumi Card
Ohad Maimon, EVP Business Development & Strategy, Leumi Card, said: "This is an international breakthrough that enhances user experience while solving the known problem of poor conversion in financial apps, due to the need for complex passwords. Integrating the technology in Leumi Card's mobile app is aligned with regulators' directives for digital banking communications that require two factors of authentication."
The banks says that the completed integration of this technology follows a comprehensive experimental and testing phase. The technology has reportedly proven high user recognition abilities that could protect the user without compromising privacy, as the recognition process doesn't include any identifying details (like fingerprints).
The product, which will be available through Leumi Card's mobile app in the coming months, allows for the use of a seamless security factor and does not require any prior registration. The solution's identity verification continuously monitors every in-app activity, in addition to the initial login stage.
Bank Leumi, one of Israel's largest banks, today announced that its credit card subsidiary, Leumi Card, will introduce the integration of a mobile security product based on behavioral biometrics. Based on the technology of Israeli Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few. A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few. Read this Term SecuredTouch, the solution embedded in the Leumi Card app will provide an advanced layer of security to its customers and will eliminate the need for complex passwords.
SecuredTouch's technology allows user identification based on a unique personal usage profile within the mobile device, including such attributes as finger size, touch pressure, touch surface and more. By verifying the profile, Leumi Card will be able to identify, in real time, whether the card owner is the one operating the app.
Ohad Maimon, EVP, Leumi Card
Ohad Maimon, EVP Business Development & Strategy, Leumi Card, said: "This is an international breakthrough that enhances user experience while solving the known problem of poor conversion in financial apps, due to the need for complex passwords. Integrating the technology in Leumi Card's mobile app is aligned with regulators' directives for digital banking communications that require two factors of authentication."
The banks says that the completed integration of this technology follows a comprehensive experimental and testing phase. The technology has reportedly proven high user recognition abilities that could protect the user without compromising privacy, as the recognition process doesn't include any identifying details (like fingerprints).
The product, which will be available through Leumi Card's mobile app in the coming months, allows for the use of a seamless security factor and does not require any prior registration. The solution's identity verification continuously monitors every in-app activity, in addition to the initial login stage.