It is a harsh and sad reality that every bank in the world is struggling to implement processes that counter the massive increase in fraud but at the same time ensure that the customer is not inconvenienced beyond frustration.

Biometrics is perhaps the ultimate in convenience in that I do not have to remember anything. There have been numerous articles reporting that biometrics may not be as secure as we would like and facial recognition and voice recognition have been hacked in the recent past. There is also the argument that all the biometric does is authenticate you to the instrument – for example, your cell phone. Your bank at this time probably has no record of your biometric profile on their files. Two-factor authentication as an industry-standard stipulates that you must have 2 of the three accepted means of authentication – something you own; something you know; something you are.

The one standard that is accepted by every bank in every corner of the world and every merchant is your card or bank PIN. Further, most customers know their PIN and remember it. WIZZIT International has a provisional global patent on the use of PIN on mobile as authentication that meets strict banking industry and card association standards and is ultra-convenient providing seamless frictionless user experience together with state of the art security.

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