People’s anxiety for new services would hinder the sound development of FinTech overall. 2  BIS central bankers’ speeches  The information technology behind FinTech, if properly applied, should and can also contribute to enhancing information security and the safety of financial transactions.
For example, seal stamps and PINs, which are traditional measures for verification in financial transactions, are accompanied by certain risks, such as theft and identity theft. In this regard, biometric authentication utilizing new technology may contribute to reducing these risks and strengthening the security in financial transactions.