Modernizing SMEs with Biometrics

calendar_month January 4, 2023

Biometric identification has been used since the 19th century when police started using it to check fingerprints. Since then biometric technology has grown with applications in security function, employee attendance, etc. The SME or small and medium enterprise sector has been using biometric technology extensively. It won’t be wrong to say that SMEs are being modernized in a big way thanks to the use of technologies like Biometrics.

Biometrics for SMEs

Biometrics helps in ensuring security for SMEs. The fact that biometrics helps in identifying people makes it a useful technology. Security threats are growing and SMEs need to be alert and prepared to secure their business. Biometrics can help them do it seamlessly. Let’s look at some of the applications for biometrics for the SME sector.

1. Access control

Access control is needed at two levels. One is ensuring physical access to facilities. And the other is access to information stored electronically. The access control system followed needs to be robust, so only authorized people are granted access. Biometrics is the best way of ensuring this.

Using biometrics allows for secure authorization of access and is a fool-proof system. It is virtually impossible to spoof a biometric system. This makes access control precise, convenient, and reliable. Unauthorized people and entities can be denied access by using biometrics.

2. Managing Identities

Managing identities is important whether it is for large enterprises or SMEs. Biometric helps in identifying people through their fingerprints, retina scan, or facial recognition. Biometrics helps to identify, authenticate, and authorize individuals. In many industries, it is a regulatory requirement that has to be followed.

3. Banking and finance

Modern biometric systems are very helpful in ensuring security in banking and finance. Biometrics is a reliable option that helps banks and financial institutions to identify and authenticate individuals. This allows them to grant access to financial services and ensures the best levels of security.

In the banking sector, authentication is a must before allowing a customer to carry out a transaction. Authentication through OTPs and passwords are not highly reliable. This is where biometrics plays a crucial role. It is a reliable and accurate system to authenticate customers. SMEs in the financial sector are widely using biometrics.

Apart from banking and finance, biometrics is being used in many sectors. From retail to healthcare, and education to telecom biometric applications are helping SMEs protect their business and be secure.

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