Michael Spencer invests millions in biometric fintech startup

City trading veteran Michael Spencer has invested millions of dollars in a fintech startup that replaces traditional methods of cyber security with facial recognition and other forms of biometric authentication.

The $14.2m investment in Veridium is a bet on new technologies to help banks, fund managers and other financial firms protect their employees and data against the growing threat of cyber crime.

Spencer said in a statement: “In today’s digital age, global organisations are challenged to secure their most critical assets against advanced threats in a way that’s both convenient and secure.”

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