Computer security or cybersecurity is increasingly becoming a main concern for business owners owing to unprecedented cases of data breaches. Recent high profile security attacks include a US bank that lost over $45 million in 24 hrs, eBay where details of more than 140 million users was exposed and Target retail chain in the United States where 100 million credit card information of clients were stolen. As technology grows, cyber criminals are becoming more sophisticated given that they are employing technical methods to attack computer networks. Cyber criminals seek to access crucial information like financial details, personal details, credit card information or other details that can sell or trade.
According to Jeff Yastine, an editor at Total Wealth Insider, the ongoing battle with hackers has forced organizations to embrace biometric cybersecurity. For instance, Wells Fargo, provides smartphone-based face, voice and eyeball biometric algorithms for clients that are on the digital banking platform. More banks, including Barclays and Citigroup are taking a similar approach to reduce the increased cases of cyber-attacks. This trend is expected grow as more organizations intend to invest heavily in computer security to avoid loss of money and protect their data. According to a market research firm, Tractica, cybersecurity investment is expected to be a $15 billion business in the next ten years.
For long, Jeff says that biometric trends have been used on various devices, including smartphones with fingerprint readers. The military uses the technology in iris scanners to identify suspected Taliban in Afghanistan. However, Jeff Yastine explained that newer algorithms are going beyond voice, face, eyeball or fingerprints. Behavioral biometrics allows a computer system to identify a user in case one identification factor is compromised. Some of these personal characteristics are the typing speed, finger patterns when typing on keyboard, how users press keys and how they hold computer mouse.
About Jeff Yastine
For more than two decades, Jeff Yastine has worked as a stock market investor. Jeff, who is also a financial journalist, is the editorial director at Banyan Hill Publishing where he helps investors to have a clear insight on economy and monetary trends while guiding them to lucrative investment opportunities. Yastine, who was once nominated for an Emmy business award, has interviewed prominent entrepreneurs and financiers like Sir Richard Branson and Warren Buffet. Previously, he served as a correspondent at PBS Nightly Business Report. His financial reports are highly regarded and have in the past helped investors avoid risky markets and instead, focus on profitable ones.