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Banking presentation fst_v1.2
1. Dr Ted Dunstone
ted@biometix.com
CEO Biometix
Chair Technical Panel, Biometrics Institute
Going beyond traditional
authentication: Biometrics for
financial services
2. Why use biometrics for
financial services?
• Improve service
• Reduce costs
• Enhance fraud detection
– (External and Internal)
• Compliance with govt. regulations
• Strengthen proof of identity (POI) processes
• Better risk management
• Improved identity management
3. Global Use of Biometrics in
Financial Services
National Australia Bank
ICICI Bank, India
Bloomberg
Banco Bradesco Bank of America
CITI Bank
Reserve Bank - Malaysia
DeutscheBank
America
Europe
Africa
Australia
Asia
Fingeprint
Finger
Vein
Voice
Hand Vein
Iris
Signature
Other
9. • Identity Management -
Duplicate Check
• Confirmation on Card
Pickup
Account
Opening
• At branch access
• At an ATM
• Over the phone
• Point of Sale
• Over the internet
Different
Channels
External - Customer Biometric Usage
17. • The Biometrics Institute is
independent and not-for-profit.
• It is a unique forum that brings
together the whole of the biometrics
industry – users, suppliers and
researchers.
• The mission of the Biometrics
Institute is to be an international
forum for biometric users and other
interested parties and to promote
the responsible use of biometrics
• http://www.biometricsinstitute.org
Over 130 Organisations, including:
• ANZ Banking Group (ANZ)
• National Australia Bank (NAB)
• Royal Bank of Scotland (RBS)
• Westpac Banking Corporation
• Bank of New Zealand
• Kiwibank
• Spanish CECA
• Bank South Pacific
• Attorney-General's Department
• Australia Post
18. Follow up
• #1 Tip: Always approach biometric projects
from an identity and risk management
perspective.
• Go to banking.biometix.com to obtain a free
report on Biometrics and Banking.
• Become a member of the Biometrics Institute.
• Ted Dunstone - ted@biometix.com -
0419990968.
Editor's Notes
June 2012, ANZ Bank CEO Philip Chronican said that the bank was exploring ways to introduce biometrics to replace all traditional methods for cards & payments like PIN codes at ATMs, amid wider acceptance of such technology by consumers. In a survey commissioned by the bank, 79 percent of Australians said that they were comfortable with fingerprint technology replacing banking PINs.
The new speech security function is now available to NAB’s 3.3 million Personal Banking customers,
121 Banks
Mekong Development Bank (MDB) in Vietnam, have used biometric technology with MDB providing Vietnam’s first fingerprint
ICICI Bank, India & Danamon Bank, Indonesia – Fingerprint Biometrics with Smartcards for Banking
National Australia Bank – Speaker Verification for Phone Banking
First Bank of Nigeria – Fingerprint enabled ATMs
Japanese Banks – Finger Vein and Palm Vein biometrics for ATMs
bank in America is offering a voice biometrics app for its customers
Blooberg – HK
Banco Bradesco is putting palm-vein authentication
Prodem FFP, Bolivia – Fingerprint Biometrics with Smartcards for Microfinance
Citibank
PayPal
http://www.textroad.com/pdf/JBASR/J.%20Basic.%20Appl.%20Sci.%20Res.,%202(9)9152-9160,%202012.pdf
NCR Corp. has just released prototypes of a new ATM targeting the developing world. The protypes feature a fingerprint biometric sensors, pre-set cash buttons, a cash dispenser and receipt printer. They are specifically designed to meet the needs of illiterate or semi-illiterate customer. Whilst this is to early to meet BSP’s immediate needs it is technology that may be worth reviewing in 12 months time. Alternatively BSP might like to consider registering with NCR as a trial site.
Apple might continue to dominate the market due to
its proposed purchase of AuthenTec for more than US$356 million.
AuthenTec was developing a fingerprint reading device that Apple
might be keen in install
BT Unified Trading federation, a cloud based trust utility for secure identity exchange. secure interchange of identities between financial firms, identity providers and service providers
DVS
Consider your identification needs – will this have positive ROI? What information is most sensitive in nature?
Ask if a Biometric System will benefit consumers? Improve services?
Reduce costs? A Biometric System should benefit all aspects of business.
Research and decide the type of Biometric System. Perform risk analysis of different programs. Not all Biometric Systems work for every company.
Ensure biometric information is secured. Biometric data is highly sensitive and can be susceptible to hackers.
Test all Biometric systems before put in production.
Educate employees in the new system and inform them of the advantages
of Biometric system. Employees may be reluctant to change.
