May 18, 2015 -
Solutions provider and systems integrator STME has partnered with Hitachi Europe to provide a digital signing solution to the banking sector using Hitachi’s biometric finger vein authentication technology, according to a report by Trade Arabia.
Hitachi’s VeinID scans the unique vein patterns of an individual’s finger and only successfully authenticates the user when the scanned finger is actually attached to a live human body.
Through the STME-Hitachi Europe partnership, regional banks are ensured that large transactions with their corporate customers can be performed seamlessly and securely, using Hitachi’s VeinID for single sign-on procedures.
STME CEO Ayman Al Bayaa said the partnership will provide organizations in the financial services industry (FSI) with a cost-effective solution to integrating legacy systems into their software architecture, as well as promote innovation and protect regional banks’ network security system.
“This partnership was formed as a result of extensive research aimed at bringing innovation and a more effective security solution to some of the Middle East’s major banks. It supports our existing fully integrated security portfolio,” Al Bayaa said.
STME will be the main provider of the technology, covering pre-sales, deployment and operation while serving as the first line of support to FSI customers. Meanwhile, Hitachi will offer a second level of support.
The offering is a response to the increasing demand for system integration systems in Middle East banks, driven primarily by the sector’s strong performance and changing IT and security needs, Al Bayaa said.
“This unique biometric security solution enables large corporate financial customers to execute transactions of all sizes, securely and safely,” Ravi Ahluwalia of Hitachi Europe said. “This technology has already been adopted by several banks globally, in particular Barclays Bank Plc. in the UK and we are very proud to be at the forefront of such pioneering technology.”
Al Bayaa said Hitachi Europe’s solution will significantly improve the way banks do business in the region by converting their systems into agile and flexible infrastructure, and expects the solution to be “deployed by around three major banks in the region by the end of this year.”