Your typing behavior is a better authentication method

Mobile phone security
Mobile phone security

The cost of cybercrime in the global economy is estimated to be around $ 445 billion annually according to a McAfee report quoted in this Wall Street Journal article. Remote banking whether done via computers or smartphones and tablets, is a risky business. Banks issue you unique pin numbers and even unique pin generating devices that force you to enter a new pin every time you log into your Internet banking or phone banking interface, but once a person has gotten hold of your unique pin, your password or your pin generating device, he or she can easily access your bank and carry out financial transactions on your behalf. They’re also working on fingerprint, voice recognition and retina authentication but by the time they become commonplace, it will be a long time. Banks need some technology that can be used with currently available hardware-software combinations.

Some European banks, according to this Forbes report, are testing a new way of authenticating their users – collecting their behavioral data and then using that data to authenticate people. It may seem fuzzy initially, but every individual has his or her own unique way of using a smartphone. You have your own way of sliding your fingers across the screen, your own degree of pressure that you put on your touchscreen, your own way of tilting the phone just the way you want and your own way of pressing individual regions on your smartphone touchscreen.

Are the passwords and unique pins going to be completely replaced? No, they will still be used, but the user behavior will add an extra layer of security. It’s like, only you can use your banking interface from that particular phone. If somebody steals your phone and even steals your banking password or pin number, just because his or her way of using the phone will be different than yours, he or she won’t be able to cause much trouble. With this new technology, your phone will be instantly able to recognize who is using the phone. In fact this technology can also be used to stop other family members from using your phone without asking you.

About Amrit Hallan
Amrit Hallan is the founder of TechBakBak.com. He writes about technology not because "he loves to write about technology", he actually believes that it makes the world a better place. On Twitter you can follow him at @amrithallan

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