UK Fintech Humaniq Implements Smart bioID System to Further Strengthen Outgoing Transaction Security

UK-based fintech Humaniq announced on Tuesday it has implemented additional bioID settings that will act as an extra safeguard be integrated into Humaniq app, which the company reports has already had more than 100,000 downloads in the Google Play store. Humaniq reported:

“Humaniq is seizing the opportunity presented by Blockchain ledgers providing complete, unchangeable histories of transactions. This allows a specific behavioural pattern for every wallet activated in the app to be identified. If transactions are detected as not fitting this pattern for a user, Humaniq’s smart system will request further biometric identification data. The more transactions a user carries out, the more detailed and thorough the profiling of their wallet is.”

Humaniq also revealed that the total transaction volume has reached 400,000 HMQ in more than 250,000 transactions per month. The company noted with the introduction of an additional layer of biometric authentication, this means over 10,000 transactions will be totally secured from fraud, benefitting over 100,000 users of Humaniq App. The company added:

“The Humaniq community has responded positively to the current features in the Humaniq app: a wallet, secure messenger, live support chat, peer-to-peer transactions in African countries (Uganda, Senegal, Zimbabwe, Tanzania, and Rwanda) and P2P encryption for file-sharing and transactions. Moreover, Humaniq earlier this year achieved the launch of the first ever working hybrid Blockchain, providing an inexpensive method to secure the network and allowing users to make small transactions with transaction fees close to zero.”

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