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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
- 5. Technology Cost versus Accuracy COST ACCURACY Voice Fingerprint Vein Iris Face
- 6. Identity Credential Ratings Credential Rating 0 1 2 3 Minimal Low Moderate High Minimal Low Moderate High Simple Single-Factor Eg. Password Complex Single-Factor Simple Multi-Factor Semi-Complex Multi-Factor + Registration Rating(POI)
- 7. INTEGRATING BIOMETRICS IN A MULTICHANNEL ENVIRONMENT
- 8. IDENTITY RESOLUTION UNIT REFERAL CARD PRODUCTION ATM BRANCH Voice Web / Mobile External - Customers and Biometrics POS Enrolment
- 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
- 10. IDENTITY RESOLUTION UNIT REFERAL Password Reset CARD PRODUCTIONBRANCH Internal - Staff Biometric Usage Data Center Login and Signing Access Control Enrolment
- 11. • Background checks New Employee • Building Access • Data-centre Access • Surveillance • Cash Handling Physical • PC Login • Authorizations • Password ResetLogical Internal - Staff Biometric Usage
- 12. Biometric Challenges BiometricsEnvironmental Physiological Acceptance Cost / Benefit Risk Mitigation Integration Process
- 13. WHAT’S NEXT THE FUTURE OF BIOMETRICS IN FINANCIAL SERVICES
- 14. Mobile e-Wallets
- 16. Emerging Markets
- 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.