A well-known, giant financial institution is looking to incorporate one of your most unique features into its ever-evolving security technology — your eyes.
Soon security will mean more than a password made up of your seventh grade crush’s name and a series of random symbols and numbers. Starting this summer, Wells Fargo will allow corporate customers to sign into the commercial banking app using an eye scan developed by the tech startup EyeVerify, or a face- and voice-recognition system, the Los Angeles Times reports.
At least for now, this kind of data would be highly difficult to replicate (or at least way more difficult than passwords, PINs and anything else you could forget or scribble down on a napkin and lose).
This type of technology is considered especially preferable for high-profile, multi-million dollar accounts.
How it works
According to the LA Times, the technology that will roll out in a few months uses a smartphone’s front-facing camera to look at the pattern of blood vessels in the whites of the eyes — a unique, unchanging pattern that matches a stored blueprint.
“User names and passwords are basically 15 years old. They’re at the end of their useful life,” said Secil Watson, who oversees online and mobile applications for Wells Fargo commercial banking, to the newspaper. “Something needs to take their place.”
Not only would this enhance security because the data involved is so unique, it would also simplify life for business clients who would otherwise have to keep track of long, daunting passwords.
Wells Fargo joined in on EyeVerify’s $6 million funding round in 2014 to help mentor the startup as part of its accelerator program, according to American Banker.
I personally love the advancement. If it were readily available for personal accounts, I’d undoubtedly be on board. I’m the one who has to reset the password upon nearly every sign-in because I’m afraid to write anything down and even when I don’t think it will, everything gets jumbled in my constant flurry of a mind.
What do you think? As this technology inevitably becomes available to all account holders and not just commercial businesses, do you think you’d opt in? Why or why not? Let SHEables know in the comments!