December 18, 2012 -
An academic research report has recently been published by Iranian researchers and explores the use of biometric technologies being used for banking applications in the country.
Referenced in the most recent Biometric Research Note, the authors of the paper rely on 121 examples of implemented biometric banking systems and found that among the world’s banks that use biometric technology, 52% are located in Asia, 32% in the United States and 9% in Europe.
This paper, titled Review Banking on Biometric in the World’s Banks and Introducing a Biometric Model for Iran’s Banking System, is co-authored by Seyyede Samine Hosseini (Tehran University) and Dr. Shahriar Mohammadi (Khaje Nasir University).
The findings from this particular research project align with the BiometricUpdate.com’s own research findings. As reported in a recent Biometric Research Note, researcher Rawlson King concluded that Asia will lead the growth of the biometric banking sector, as the adoption of these technologies is quite high in emerging economies in Asia, Latin America and the Middle East.
The authors of the Iranian research project surveyed 21 banks in Iran and found that 62% of them use biometric fingerprint scanning systems as a form of workforce management to monitor the time and attendance of their own staff, yet no bank in the country currently uses biometrics to authenticate its customers.
The researchers of this paper believe that all banks should install biometric systems, giving particular mention to fingerprint technology, as it “could be a good solution to apply in branch banking, because it is user friendly, high in accuracy, easy to use and its scanners are low-cost,” the report continues. “Although its security is not too high, but due to the fact that the teller of the bank could check the authentication process, there is no need to use technologies with higher security.”
As the authors of the paper conclude: “All of the banks in Iran should implement biometric authentication systems for all of their banking operations, such as branch banking, internet banking, telephone banking, ATM and POS.”