Bank Leumi, one of Israel's largest banks, today announced that its credit card subsidiary, Leumi Card, will introduce the integration of a mobile security product based on behavioral biometrics. Based on the technology of Israeli Startup SecuredTouch, the solution embedded in the Leumi Card app will provide an advanced layer of security to its customers and will eliminate the need for complex passwords.
SecuredTouch's technology allows user identification based on a unique personal usage profile within the mobile device, including such attributes as finger size, touch pressure, touch surface and more. By verifying the profile, Leumi Card will be able to identify, in real time, whether the card owner is the one operating the app.
Ohad Maimon, EVP, Leumi Card
Ohad Maimon, EVP Business Development & Strategy, Leumi Card, said: "This is an international breakthrough that enhances user experience while solving the known problem of poor conversion in financial apps, due to the need for complex passwords. Integrating the technology in Leumi Card's mobile app is aligned with regulators' directives for digital banking communications that require two factors of authentication."
The banks says that the completed integration of this technology follows a comprehensive experimental and testing phase. The technology has reportedly proven high user recognition abilities that could protect the user without compromising privacy, as the recognition process doesn't include any identifying details (like fingerprints).
The product, which will be available through Leumi Card's mobile app in the coming months, allows for the use of a seamless security factor and does not require any prior registration. The solution's identity verification continuously monitors every in-app activity, in addition to the initial login stage.
Leumi Card has also presented the pilot results, demonstrating the technology's recognition capabilities, to global financial institutions with which the company has collaborations in the field of Fintech innovation. As a result, they report that SecuredTouch is now in advanced engagements towards further integrations with these parties.
