October 9, 2012 -
Cairo Amman Bank (CAB) recently deployed a flagship biometric solution from IrisGuard Inc.. The customer-oriented iris biometric authentication solution, known as EyeBank, is now operational at all customer service desks, teller stations and ATMs throughout Palestine and Jordan.
In the last two years, Cairo Amman has executed millions of foolproof identity transactions. Currently, CAB has deployed over 500 iris cameras and enrolled over 100,000 retail-banking customers. The bank’s customers currently enjoy enhanced services through all bank channels.
“On the financial service side, banks throughout the retail sector increasingly recognize the true value of IrisGuard’s EyeBank technology, to protect financial institutions and customers against the consequences of customer identity security breaches. We are truly proud and excited about the high adoption rates and the perceived user experience in both security and convenience,” commented Mr. Imad Malhas, CEO of IrisGuard Inc.
An independent banking survey conducted by Ipsos in 2011 showed over 94 percent customer satisfaction with IrisGuard EyeBank ATM authentication. Over 95 percent anticipated increasing IrisGuard service usage rates at ATMs. According to the survey, “bank customers like the convenience and ease of use: 95.2 percent want to continue using EyeBank in the future and 94.9 percent would recommend it to friends and family.”
The bank’s incentive for the iris-based solution is to ensure its customers have secure and fast access to their bank accounts in addition to card-less transactions at all ATMs.
Malicious fraud prevention and anti-skimming are undoubtedly significant elements in the business case for iris biometric authentication; however, convenience and swiftness are equally compelling business drivers at customer access points. In banking services, iris recognition is the most advanced and secure authentication technology that provides fast and reliable services. This reduces fraud and increases efficiency by eliminating the need for the traditional User ID, ATM card, pin number, and password.