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Biometric Security For Mobile Banking 2008

Biometric Security For Mobile Banking 2008



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Published by: denweb69 on Apr 17, 2009
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Markets + Enterprise
 White Paper 
BiometricSecurity for Mobile Banking
By Loretta Michaels
 By Dr. Allen L. Hammond
 Washingon, DC 20002 USA el +1 202 729 7600 ax +1 202 729 7610 htp://www.wri.org
 World Resources Insiue graeully acknowledges generous nancial assisance rom Vodaone, PLC or heresearch presened below.
Markets + Enterprise White Paper 
Dr. Allen L. Hammond
Innovations in Financial Services for the Poor 
Over he pas 30 years, he rise o micronance hashelped many Base o he Pyramid (BoP) householdso improve heir livelihoods and even, in some cases,o climb ou o povery. Micronance is increas-ingly becoming a commercial aciviy wih signicaninvolvemen by banks. And wih an indusry-wideclien base o approximaely 80 million borrowers, i’sclear ha Muhammed Yunus deserved his Nobel PeacePrize. Bu he need or access o nancial services by BoP households is boh much larger han 80 millioncusomers and more varied han micro-savings andmicro-lending.I believe ha he nex ruly ransormaive innovaionin nancial services or he poor is now visible. ainnovaion is mobile phone banking—already ully commercial in he Philippines, in Souh Arica, and inKenya, and gahering momenum virually everywherein he developing world. While banks may play an im-poran role in his aciviy, he real caalyss are likely o be echnology owners and expers. Specically,wo paries will be key o he coming mobile bankingrevoluion: rs, he mobile elecom companies haown he neworks capable o reaching several billionunbanked people and he servers capable o process-ing many billions o iny ransacions; and second, hesarup mobile ransacion companies ha are guringou innovaive ways o use hose neworks.e ollowing repor, Biomeric Securiy or MobileBanking, addresses a key barrier o an impendingechnology-driven revoluion in nancial services orhe poor. is orward provides some conex or herepor and is ndings by describing echnology rendsand heir poenial implicaions or access o nancialservices.
Enabling echnology rends
ere are several echnology and business rends worh menioning here. One is he build ou o mo- bile elecom neworks, arguably he mos remarkable(and larges) recen echnological phenomenon on heplane. ere are already more han 1.5 billion mobilephones in use in developing counries, and ha num- ber is likely o reach 2.5 billion wihin he nex 5 years.More han 80 percen o new cusomers worldwide will come rom developing counries, and since nearly everyone in developing counries who is no par o he

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