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With the introduction in 2017 of the Face ID feature on the iPhone X, Apple brought face recognition technology to the forefront for many people. While the development of face recognition technology began in the 1960s, it is the increase in computing power and new device form factors, that has enabled the technology to gain more widespread adoption. Facial recognition today is commonly used to unlock phones, open new digital bank accounts, and even used for identity proofing people at customs in airports. However it is this link between facial recognition technology and identity that is starting to raise concerns on the use of the technology in relation to security, bias and user privacy .

Application fraud is a billion dollar problem for financial institutions (FI). It occurs when a fraudster applies for credit, like a credit card or personal loan, with no intention of paying it back. While some fraudsters might use their own information and then drop off the radar, first-party application fraud is a less common technique today. 

It can be a real pain to regain access to banking and shopping accounts on a new device after a smartphone has been lost or stolen. Without a device ID, SIM card or backup codes from an authenticator app to verify identity, it can take several days until the account owner is finally let back into their mobile accounts.

Our movements around the world each day create a location pattern that is unique to us. Take a moment to think about it.