Prospects for the application of biometrics in the Polish banking sector

Abstract

Research background: The ongoing digitisation process in the banking sector, coupled with widespread remote provision of services, is leading to the advent of new solutions in the field of broadly understood security. The increasingly sophisticated forms of attacks on banks’ IT systems and their users have engendered the need to implement authentication methods that would ensure high security levels, but would also be convenient for banks' clients and suited to the requirements of mass service. Biometric technology seems to be a solution to this issue. The two factors that may boost its proliferation are: the fact that banks need to adjust to more rigid regulations, and technological advancements leading to cost reduction and increased availability of biometric solutions in mobile devices. Purpose of the article: The purpose of the article is to assess the prospects for the application of biometrics by the banking sector in Poland in individual customer service channels. Methods: The basis for theoretical considerations comprises the analysis of literature on authentication techniques and research on the processes whereby consumers accept new technologies. The empirical part of the paper was based on the results of the authors’ questionnaire survey among representatives of the Polish banking sector. Findings & value added: The banking sector in Poland is on the verge of a sweeping bio-metric revolution in the coming years, because most traditional identity verification and authorisation methods currently available in banking do not comply with strict security and user convenience requirements and RTS regulations. Biometric technologies will be of use in all customer service channels, with the experts indicating authentication in bank branches, ATMs, and mobile banking as the primary implementation areas. Solutions which are most likely to be applied are those based on biometrics of fingerprints and finger veins, as well as voice biometrics.