How Gova is Revolutionizing Data Privacy and Security using Biometric Technology
Tides are changing, and as payment technology evolves, fraudsters are changing with it, and the need for top-notch financial security measures has become more critical for individuals and businesses.
Over the years, several security measures have been implemented to protect against fraudulent activities such as financial hacks and account takeovers caused by fraudsters. Nonetheless, these security measures do not appear as effective as they should be, as fraudsters have always found a way to circumvent them.
Passwords and PINs are the most commonly used security measures implemented by various digital financial institutions, but so far, they have proven not secure enough. Passwords have a low-security level and are difficult for most users to remember, so users tend to keep it simple, so they don’t forget.
According to a report by Verizon, 80% of financial account breaches occur because of a weak password.
Hackers easily leverage users’ personal information that is public on social media to hack the passwords to their financial banking apps, as many users rely on password strings containing their names, phone numbers, birthdays etc.
Enough about all the security facts, data reports and long talks; I’m sure you’re wondering how Gova keeps your data and, most importantly, your money secure.
With the rising rate of cybercrimes in recent years, it is more important than ever to find a more reliable solution to all security challenges individuals such as yourself face when protecting their finances against fraudsters. This is one of the reasons why we are building Gova.
Gova is powering a secure contactless biometric financial solution that allows you to send, receive and pay for goods/services (online and offline) using biometric identifiers such as your face. Since your face is unique to you alone, Gova makes it challenging, if not impossible, for fraudsters to try and compromise your finances.
Gova Biometric Security Feature
Gova has a biometric security feature powered by a secure liveliness facial recognition technology that functions as a higher level of security for logging into the mobile app, payment or transaction authentication.
Facial recognition technology is so advanced that tricking the system is virtually impossible.
Unlike most popular contactless payment solutions, such as card payments, there is no way to ensure that the person presenting a card is the actual cardholder. On the contrary, Gova’s facial recognition technology confirms the payer’s identity in real-time.
How does Gova Biometric Security Feature work-
- When signing up on Gova, you’ll be required to take a picture of your face. The captured image is linked to your Gova account as an identifier. As a result, whenever you want to access (i.e. login to) your Gova account, you must scan your face (this usually takes 5–10 seconds).
- Our biometric technology will compare the newly scanned image to the first image you took when signing up to authenticate your account’s actual owner. You will have full access to your Gova app if the images match.
- The same rules apply when making payments or performing a transaction on Gova.
When a fraudster is trying to gain access to any Gova account using static pictures, video replays, 2D, 3D masks, and so on, our liveness facial detection technology can distinguish between them and deny them access.
Data Privacy
No one, not even Gova staff, has access to your personal or sensitive financial information.
Gova leverages the best data privacy and security practices by combining biometrics technology with tokenization. Tokenization is a method of user identification wherein sensitive data of an account holder is replaced by a random token as an additional authentication step. Combining biometrics data with a token also adds a stronger level of authentication on Gova.
Gova will never capture any user’s face without consent from the user.
Summary
In addition to the top-notch facial recognition security feature implemented in Gova to stay ahead of fraudsters, we continually develop new security features to ensure that all our users are secure and safe from kinds of threats.
Gova is already in the future as our contactless biometric payment solution allows you to make seamless online and offline transactions with your face everywhere, putting you in control of your finances, security and digital identity.
Be one of the first people to get early access to try out Gova when we launch. Over 1000 people have signed up on our waitlist to enjoy these features. If you’d like to join our waitlist, please signup here
If you have questions about Gova, you can always reach out to us at hello@govahq.com.
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