Banking is being reshaped by several forces, including digitization and online service delivery, and biometrics are vying for a major role in different types of interactions for financial services. Industry publication The Banker notes that synthetic identity fraud is expected by the Deloitte Center for Financial Services to generate $23 billion in fraud losses by 2030, and stakeholders see biometrics as the tool they need to fight back. Executives from UBS and iProov say biometrics can provide a cheaper, easier way to perform banking transactions, and also back reusable digital IDs. Consumers appear to be ready, with a survey from PYMNTS Intelligence and AWS showing just over half of those who made an online purchase in a specified period using biometric authentication. https://www.activistpost.com/2023/10/banks-deploying-biometrics-for-ever-wider-range-of-remote-and-in-branch-interactions.html