Fujitsu & M2SYS Webinar - How Palm Vein Biometrics Can Strengthen PCI and Workforce Management Compliance
•Download as PPTX, PDF•
0 likes•1,196 views
This document discusses how palm vein biometric technology from Fujitsu and M2SYS can help strengthen compliance for PCI and workforce management. It outlines the costs of non-compliance for PCI and explains how palm vein biometrics can help by enabling stronger user validation and access controls. It also discusses the costs of non-compliance for workforce management regulations and how palm vein biometrics can help by preventing time theft and providing an audit trail. Representatives from Fujitsu and M2SYS then provide contact information for more details on their palm vein biometric solutions.
Recommended
Recommended
More Related Content
What's hot
What's hot (19)
Viewers also liked
Viewers also liked (20)
Similar to Fujitsu & M2SYS Webinar - How Palm Vein Biometrics Can Strengthen PCI and Workforce Management Compliance
Similar to Fujitsu & M2SYS Webinar - How Palm Vein Biometrics Can Strengthen PCI and Workforce Management Compliance (20)
More from M2SYS Technology
More from M2SYS Technology (16)
Recently uploaded
Recently uploaded (20)
Fujitsu & M2SYS Webinar - How Palm Vein Biometrics Can Strengthen PCI and Workforce Management Compliance
- 1. Using Biometric Palm Vein Technology To Strengthen Compliance Hosts: Bill Geary – Sales Manager, Retail & Education, Fujitsu Frontech North America John Trader – Communications Specialist, M2SYS Technology If tweeting during the presentation, please use hashtag #palmsecure
- 2. Agenda • Company Overviews • The Cost of Non-Compliance • PCI Compliance • How Can Palm Vein Biometrics Help? • Workforce Management Compliance • How Can Palm Vein Biometrics Help? • Why Fujitsu Palm Vein Biometrics Technology? • Why M2SYS? • Contact Information
- 3. Fujitsu Overview PalmSecure™ Biometric Solution Company Leading Provider of Customer – Focused Information Technology and Communication Solutions Founded in 1935 – 76 years in existence Annual Revenue – $53 Billion Over 160,000 Employees 100+ Offices Worldwide Products, Services and Support Delivering Computers, Software, Telecommunications, Microelectronics, Electronic Devices – 34,000 Patents Providing Consulting, Systems Integration, IT Infrastructure, Solutions – Third Largest IT Services Provider in the World Worldwide Support Partners Partnerships with Leading Distributors, Resellers, ISV’s and Software Companies Customers Most Global Fortune 500 Companies
- 4. M2SYS Overview We Simplify the Adoption of Biometric Technology • Winner of 2007 Frost & Sullivan Biometrics Technology Innovation of the Year Award • Winner of 2011 Frost & Sullivan North American Biometrics Industry New Product Innovation Award • Primary Markets Served: Public Safety – Law Enforcement, Electoral, Healthcare, Banking, Education, POS, Childcare, Transportation, Workforce Management, Membership Management, Application Security • Over 500 enterprise software integrators • Tens of Thousands of End User Deployments in 90 Countries • Unique Hybrid Biometric Platform™ solutions for rapid biometric adoption and deployment • Headquarters in Atlanta, GA with Satellite Office in Asia
- 5. Components of PCI Compliance: Software Merchants and Manufacturers Developers Processors PCI/PTS PCI-PA-DSS PCI DSS PIN transaction Payment security Data Security Application Standard Vendors Ecosystem of payment devices, apps, infrastructure and users
- 6. The Cost of PCI Non-Compliance: • Effective security strategies lower the cost of non-compliance • Absence of enabling technologies raises the reactive costs of non- compliance • Consequential costs can include business disruption, productivity loss, revenue loss and fines/penalties
- 7. The Cost of Non-Compliance:
- 8. The Cost of Non-Compliance:
- 9. How Can Biometrics Help? Palm Vein Biometrics to Strengthen PCI Compliance Benefits: • Passwords/Network Security • Stronger validation – eliminates sophisticated POS passwords • Avoid costly security breaches – stops unauthorized access using borrowed or stolen passwords • Record Storage • Strengthens access control to areas containing sensitive data • Cost savings • Reduce help desk calls • Tactic to help lower largest contributor to shrink – employee theft
- 10. Components of Workforce Management Compliance: Time and Labor Management Employee Scheduling Employee and Manager Self-Service Absence and Leave Management Workforce Analytics Union Requirements & Gov’t Regulations
- 11. The Cost of Non-Compliance: Workforce Management • Wal-Mart pays $172 million in 2005 • A&P pays $3.1 million in 2004 • Lawyer fees and court costs • Productivity losses • Irreparable damage to reputation and consumer loyalty
- 12. The Cost Of Compliance: Workforce Management According to the U.S. Department of Justice, an employer can be ordered to pay liquidated damages and back-pay as well as any criminal fine or penalty that is imposed in court. Criminal penalties under the Fair Labor Standards Act (FLSA) impose a fine of up to $10,000 on the first conviction and a fine of up to $10,000, a term of imprisonment of up to 6 months, or both, on all convictions after the first conviction.
- 13. How Can Biometrics Help? Palm Vein Biometrics to Strengthen WFM Compliance Benefits: • Stops time theft and buddy punching • Strengthens employee accountability • Improves productivity – no PINS or passwords • Concrete audit trail that provides irrefutable proof • Eliminates identity fraud • Reduces payroll inflation and payroll errors • Solidifies value of punch restriction
- 14. Palm Vein Biometric ID Key Advantages High Authentication Accuracy • FAR: 0.00008% • FRR: 0.01% Non-Traceable and Non-Shareable Authentication Method • Delivering unmatched security and privacy that is virtually impossible to forge Non-Intrusive Interface • Contactless solution that leaves no biometric footprints following authentication • High level of user acceptance Applicable to All Users with Virtual No Enrollment Failure • Works regardless of ethnicity, age, and other demographical statistics • Highly applicable to all users due to minimal impact from external factors (abrasions, dry skin, chemical damage, wearing skin lotion, etc.)
- 15. Why M2SYS? Key Advantages • Instantly interfaces with any third-party WFM or POS application • Custom versions already built for Kronos, ADP, Qqest, Zoll Data Systems, Empower, Fujitsu GlobalStore and others • Can facilitate offline punch capture and discreet “typeless” schedule enforcement (Kronos and ADP) • Easily scale to share templates across terminals or stores • Seamless interface to end users
- 16. Contact Information Bill Geary John Trader Sales Manager, Retail & Education Communications Specialist Biometric Solutions M2SYS Technology Fujitsu Frontech North America 1050 Crown Pointe Pkwy. 25902 Towne Centre Dr Suite 470 Foothill Ranch, CA 92610 Atlanta, GA 30338 bill.geary@us.fujitsu.com john@m2sys.com +1-813-855 8452 office +1-770-393-0986 x34 +1-813-380 9423 cell www.m2sys.com www.fujitsu.com/us/services/ biometrics/palm-vein/ Twitter: twitter.com/m2sys Facebook: facebook.com/m2sys LinkedIn: linkedin.com/company/ m2sys-technology
Editor's Notes
- Here is a brief overview of the ecosystem of payment devices, applications, infrastructure and users.Starting on the right hand side with the green block, you have the PCI Data Security Standard (or DSS) which applies to all entities that store, process and/or transmit cardholder data. It covers technical and operational system components included in or connected to cardholder data. So if you are a merchant that accepts or processes payment cards, you must comply with the PCI DSS.The center red section covers is for software developers and integrators of payment applications that store, process or transmit cardholder data as part of authorization or settlement when these applications are sold, distributed or licensed to third parties. The left blue section is a set of security requirements focused on charactsristics and management of devices used in the protection of cardholder PINs and other payment processing related activities. The requirements are for manufacturers to follow in the design, manufacture and transport of a device to the entity that implements it.Biometric identification pertains to the green PCI DSS section to strengthen implementation of access control measures which applies to: restricting access to cardholder data by employees, assigning a unique ID to each person with computer access, and restricting physical access to cardholder data.
- The PonemonInstisute recently did a study of 36 multinational organizations and found out that the average cost of compliance for those organizations is $3.5 million and the average cost for these organizations for non-compliance is $9.4 million. They also discovered that in terms of external compliance, respondents indicated that the PCI-Data Security Standards were one of the most important and difficult requirments to comply with. It seems obvious to point this out but being proactive by providing technology mechanisms that increase security along the chain of PCI requirements, you will lower the reactive costs of non-compliance.I’ts interesting to note that business disruption and productivity losses are the most expensive consequences of non-compliance. Non-compliance can also negatively impact revenues and rack up significant amounts in fines and penalties levied. It’s interesting to note than in the Ponemon Study, they discovered that there is an inverse relationship between per capita non-compliance cost and the percentage of compliance spending in relation to the total IT budget. In other words, the more that an organization spent on the costs of non-compliance, the smaller the amount of the IT budget the organization had allocated to compliance costs.
- I included this graph from the Ponenmon Report that I mentioned earlier just to give you an idea of the percentage gaps between compliance and non-compliance costs by industry. As you can see, retail is #2 on the list followed by healthcare at #3.
- This graph reports the average number of compromised records over a 12 month period by industry classification. You will notice that although it isn’t a perfect match, there appears to be a close relationship between the average number of lost or stolen records and the percentage gap by industry shown in the previous graph.
- Here are a list of the components that are part of workforce management compliance. Employers must be aware of all these elements of their workforce management strategy which can be a complicated task. As this list clearly indicates, there are many facets of workforce management compliance that require attention and many different facets of compliance that are important to include.
- So let’s talk for a minute about the consequences of non-compliance. Does anyone remember the lawsuit that was brought against Wal Mart back in 2005? 116,000 current and former California Wal Mart employees claimed that they were illegally denied lunch breaks and Wal Mart was ordered to pay $57 million in general damages and $115 million in punitive damages for violating a state law that requires employers to give 30-minute unpaid lunch breaks to employees who work at least six hours.In 2004, a $3.1 million dollar settlement was levied against A&P by hourly employees that claimed they had not received proper compensation for all hours worked (off-the-clock) or overtime premium pay for all hours worked in excess of 40 in a work week in violation of the Fair Labor Standards Act.There are many costs associated with workforce management non-compliance including lawyer fees and court costs, losses in employee productivity, and perhaps one of the most damaging is a hit to a businesses reputation which can cause irreversible damage to consumer loyalty. In a day and age where social media shines the spotlight on these types of egregious violations of an employee’s rights and in an economy that is increasingly tighter, companies can’t afford to take a risk on their workforce management compliance policies.
- The costs of compliance can also go well beyond heavy monetary losses. There can also be criminal convictions requiring imprisonment.
- We designed our biometric identification software to instantly interface with any third party WFM or POS application. We have a version of our flagship Hybrid Biometric Platform software called Bio-SnapOn that will act as a biometric identification layer on top of other applications or we have several custom versions of our software that are custom built to interface with leading WFM and POS software providers.Our software can facilitate offline punch captures and typelessIn addition, with our Hybrid Biometric Platform software, if you are an organization with more than one site or with more than one store terminal, you can easily share employee templates across terminals and stores. Our software is built to seamlessly interface and be hassle free to our end users so you can concentrate on your core business and not have to be tied down to software glitches or support problems.