180-Second Exercise: Amazon One Palm Scanning Opportunities
December 6, 2023
Biometric authentication methods are one the newest generations of security measures and one of the latest iterations can be found at your local Whole Foods. The next time you are buying organic kombucha, you may find yourself in front of an Amazon One sensor alongside the register. Amazon One sensors enable consumers to use their palm for identity matching – actually it analyzes the palm and underlying vein structure to create a unique, encoded signature – quickly hold your hand over the scanner and be on your merry way as your “palm signature” charges the card you have designated in your Amazon account.
This next chapter of authentication and identification comes with a slew of questions of how financial institutions will be impacted. These questions are perfect for a 180-second exercise. In previous blogs, we’ve explained that 180-second exercises are a great way to practice brainstorming and thinking creatively about the different questions, concerns, and changes in the economy and consumer behavior – fast!
In light of spreading adaptation of this technology – Coors Field in Colorado uses Amazon One devices to complete age verification and more retailers are deploying Amazon One each week – we recommend the following question in your next leadership team meeting:
What are 15 ways financial institutions can leverage the opportunities presented by biometric authentication technology such as Amazon One?
Set a timer for 180 seconds and encourage participants to go for as many ideas as possible without worrying about whether they’re “good” ideas. It can be easy to focus on potential concerns and risks when thinking about changes in the competitive landscape. Taking the opposite approach and identifying potential positive outcomes might highlight opportunities that the financial institution can take advantage of to help compete and thrive.