World-renowned for its technology talent and expertise, Ireland has been a great destination to set up international operations for European, American and Japanese companies over the last 20 years.
One such company, Daon, is a global leader in biometric technology, which identifies software users by their unique human factors that — unlike passwords — can never be lost, stolen or forgotten. The technology can be used to authenticate existing customers or digitally onboard new customers in a convenient and secure manner.
Thanks to Daon’s IdentityX platform, global financial service leaders like Visa, Mastercard, USAA and BNP Paribas have achieved what was once impossible — enabling strong security while maintaining the ease, simplicity and convenience that digital banking demands.
Led by CEO Tom Grissen, who was named by Forbes as one of “The Five CEOs Who Are Reinventing Industry Through Digital,” Daon was founded in Ireland, but has its headquarters in the U.S. and an ever-expanding presence across most of the world, including Africa, Europe, Australia and Asia, particularly in Japan, where it has forged major partnerships.
Through the technology giant NEC Corp., Daon delivers components into Japan’s Ministry of Justice immigration systems and embeds NEC components into many of its largest global programs.
In 2017, Daon launched a joint venture with Sumitomo Mitsui Financial Group Inc., Sumitomo Mitsui Banking Corp. and NTT Data Corp. The project, called Polarify, was born out of the growing demand for biometric technology.
“Around 20 customers have already selected Polarify in less than 12 months of operation, and user feedback is positive. The business benefits for our customers are very strong as biometric authentication facilitates existing expensive business processes to be moved to much more cost-effective digital channels,” Polarify President and CEO Tomohiro Wada said.
In a study titled “The Business Case for Biometric Authentication,” business and research group Goode Intelligence found that biometrics led to Net Promoter Score improvements, security and compliance benefits, including Open Banking and Payment Services Directive and, most notably, much lower customer acquisition, operational and system costs.
As worldwide adoption of biometric technology continues to accelerate, Daon — with the help of its customers and partners — will be working hard to make the future both secure and convenient.