Biometric technology is turning out to be the “X factor” for FinTech invention. Advancement of the technology is creating new opportunities for innovators to streamline the customer experience (CX). Convenience – quick and easy processes – is paramount for wooing today’s consumers, and biometrics are increasingly making it possible to increase speed and decrease friction.
There’s long been an inverse relationship between security and convenience, when it comes to granting consumers access to their personal accounts, from social media to financial. Thanks to biometric technology, a seamless customer authentication flow is finally within reach. Security and convenience are no longer mutually exclusive.
Sthaler is an early stage identity and payments technology business which enables a consumer to identify themselves and pay using just their finger at retail points of sale. The company developed Fingopay, using VeinID technology, in partnership with Hitachi. Blue Star Capital PLC (LON:BLU) is an investing company with a focus on new technologies. Blue Star’s investments include a 0.9% holding in Sthaler.