EP897: Could a large-scale hack of biometric data trigger a global banking crisis? Artwork

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EP897: Could a large-scale hack of biometric data trigger a global banking crisis?

July 17, 2025 • IBS Intelligence Podcasts | A Cedar Consulting Unit • Episode 897

Michael Marcotte, Founder, Chairman & CEO, artius.ID

Banks currently store customers’ biometric data on centralised systems, making it highly vulnerable and attractive to hackers. A successful breach of this data could result in group litigation from customers large enough to destabilise both the bank itself and the surrounding financial ecosystem. In 2016, Michael Marcotte co-founded the US National Cybersecurity Center, which works with companies and governments to improve national security and computer security. Now he is Founder, Chairman and CEO of artius.ID, which offers secure, self-managed individual identity solutions for S&P 500 majors.