Bank Windhoek has introduced a new biometric feature on its mobile as a cybersecurity and fraud prevention strategy.
According to a statement issued by the bank, the measure comes as global and local digital fraud continues to escalate.
Bank Windhoek executive officer of digital, data and customer transformation Ryan Geyser says unlike passwords or PINs, which can be stolen or guessed, biometric data is unique to the user, making unauthorised access extremely difficult.
Additionally biometrics provide a defence against social engineering and phishing scams, as a fraudster cannot use a stolen password or one time-PIN (OTP) to access the account; they require the user’s physical presence.
“Biometrics is a critical step, providing an extra, virtually impenetrable layer of protection against the sophisticated social engineering and impersonation scams that are driving the current fraud surge,” says Geyser.
