TOC BIOMETRICS unveils its new APPROVE App at the Money 20/20 global event. The consent administrator system allows users to confirm or authorize with their fingerprint and smartphone to perform tasks such as online banking login, money transfers, payments, purchases, permits, electronic signatures, authentication at an ATM and so on. Through a push message, the person can answer "I am/ I do" while placing their finger on the sensor of the smartphone.
This system is revolutionary since it is the only one in the world that is based on the "trusted third party" security protocol patented by TOC, in which a third, autonomous, independent and reliable party corroborates the received information. The system safeguards the user’s personal data by not using databases or any information related to the transaction.
"TOC aims to create a paradigm shift in how to authenticate by changing the traditional models to make them more efficient and safe. An average person handles 18 passwords, inevitably leading to security breaches. Today, systems that allow greater autonomy, security and speed are required, and the solution is --literally—just a finger. The APPROVE system checks anyone’s ID with its corresponding fingerprint to perform operations such as bank transfers, ATM login or online purchases, in a 100% safe and efficient way. The system technology does not use databases and operates with a trusted third party making it safe and private for users”, said Ricardo Navarro, TOC’s CEO & leader of TOC Labs.
Biometrics is the big trend in the world to improve safety standards and to foster the development of mobile phones with fingerprint sensors - Apple sells 50 million of these phones a month - showing that it is now massive. With the creation of APPROVE, which integrates this technology effectively, TOC BIOMETRICS is at the forefront of innovation on this area, and will present its accomplishments exclusively at Europe’s Money 20/20 event by participating as a sponsor in booth K24.
For more information about Money 20/20 Europe, visit http://www.money2020europe.com