NEON Launches A New Approach to Banking in Brazil No fees, mobile-only, biometrics for authentication instead of passwords

Reston, VA – NEON, an online bank with no monthly or annual fees, will break new ground in the banking sector by promising to help customers better manage their financial lives. The bank launched throughout Brazil on July 11th. Innovative FinTech features mobile device-based facial recognition as a differentiator in an app designed for millennials.

Biometrics were implemented to improve the customer experience and also provide a greater level of security. NEON enlisted Daon’s help and incorporated our IdentityX® Platform for biometric authentication. Customers will use facial recognition to access their account and to perform additional transactions, such as transfers and payments. When customers sign up they will enroll in biometric authentication with their mobile device by taking a selfie that will be used for future registration and authentications.

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NEON was founded on a promise to leave behind the frustrations that have plagued the traditional brick-and-mortar banking industry, including long lines, bureaucracy, and hidden fees. The company is an evolution of Contro.ly, a FinTech company founded in 2014 with approximately 10,000 customers. NEON’s goal is to reach 100,000 active customers in its first year of operation.

“Daon works with some of the most innovative brands in the financial services industry and we’re excited to be working with NEON to provide their customers with a superior user experience through the use of biometrics,” said Tom Grissen, CEO at Daon. “Convenient and secure authentication has become critical in today’s digital economy as customers embrace their smartphone as the preferred device to do business online.”

NEON will be the first bank in Brazil to use biometric authentication for transactions within the application. Click here to read the full press release translated to English that was issued by NEON in Portuguese on July 13th.

About Daon

Daon, www.daon.com, is an innovator in developing and deploying biometric authentication and identity assurance solutions worldwide. Daon has pioneered methods for securely and conveniently combining biometric and identity capabilities in multiple channels with large-scale deployments that span payments verification, digital banking, and securing borders and critical infrastructure.  Daon’s solutions provide our customers with choice, making it easier and safer for people to conduct business online, travel, vote, and so much more. Daon’s IdentityX® Platform for mobile biometric authentication removes friction from the authentication process while dramatically reducing fraud to previously unattainable levels. IdentityX allows businesses to conduct transactions with any consumer at any time with total confidence.  Get to know us on Twitter, Facebook and LinkedIn.

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Media and Analyst Contacts

Travis Wachter
Director of Marketing Communications
+1 (703) 984-4016
travis.wachter@daon.com