Financial Services

News, interviews and editorials about biometrics used in the financial services sector.

EyeVerify raises capital, announces availability for banking, financial services sector

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EyeVerify has announced the availability of its solution for the banking and financial services sector, which it says allows firms to secure their employees’ access to corporate systems and can allow enterprise customers the ability to make large transactions. “We are impressed by the desire of firms in the banking and financial services industry to replace complex, vulnerable pin and password schemes with a safe, simple, secure alternative,” Toby Rush, CEO and founder of EyeVerify said. “Since the recent releases

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Cisco report shows consumers want personalized bank experience, trust biometrics

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A new Cisco Customer Experience Report focused on retail banking has found that customers want a more seamless and personalized experience from their bank and are mostly willing to share biometric information with bankers. The report looks at consumers’ desire for personalized banking across multiple channels, including online, smartphone telephone and physical bank branches. The report includes responses from 1,514 consumers and 405 bank professionals across 10 countries. In the report, consumers indicated a willingness to exchange more details about their financial

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Opus Research announces financial services roundtable at Voice Biometrics Conference

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Opus Research, presenters of the Voice Biometrics Conference, set to take place May 8-9 in San Francisco has announced it will convene an expert roundtable to discuss practical experiences in fraud prevention and customer authentication from the financial services perspective. In particular, panelists include Ken Palla, Vice President of Union Bank; David Pollino, Fraud Prevention Officer from Bank of the West; and Advait Deshpande, Sr. Manager of Client Services at Vanguard Securities. The conference set to take place in less than

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VoiceVault launches financial services mobile app

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VoiceVault has just announced the launch of an app in 40 countries by a top three global US financial institution, leveraging the company’s voice biometric technology. Available now, the Android and iOS smartphone and tablet app uses voice biometrics as part of a multifactor authentication process for securing commercial banking ACH payments and wire transfers. According to the company, this solution provides security for multi-million dollar financial transactions, with billions of dollars in transfers already secured by active users in over

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EyeLock partners with Capco for biometric bank security

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EyeLock has announced a partnership with Capco, a global business and technology consultancy dedicated solely to the financial services industry, to implement EyeLock’s identity authentication security solutions in the financial sector. Using EyeLock’s iris authentication, Capco has launched Secure – Banking and Capital practice for financial institutions. “The financial services sector has a crisis level need for trusted identity, which means banks and other financial institutions need to verify that a person is who he or she claims he or she

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SharperLending partners with CIC for biometric signature capture and verification

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SharperLending LLC has updated its settlement services platform and has partnered with Communication Intelligence Corporation to enable the secure acceptance of a borrower’s authorization signature electronically for tax form 4506-T. Form 4506-T is the form required by the IRS that authorizes the ordering of Tax Return Verification documents for the purposes of verifying a borrower’s income from a mortgage loan. Form 4506-T also includes the ordering information the lender is requesting: the form names and the years that the mortgage

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UIDAI links banks with Aadhaar portal

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The Unique Identity Authority of India is developing a system to link banks and Aadhaar portals, to associate bank accounts with Aadhaar numbers, to improve the subsidy systems currently in place. According to a report in the Times of India, 40% of consumers have provided their Aadhaar data to gas agencies, and 15% have already provided their details to banks. The UIDAI has also just finished the development of a remote platform, to allow bank employees to easily access Aadhaar numbers.

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Biometrics Institute announces seminar on combatting fraud in financial services

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The Biometrics Institute has announced a seminar on combatting fraud in financial services, set to take place June 26, 2013. The seminar, hosted by Unisys will be held on the day prior to the Technology Showcase Europe 2013 event, which will be held at the Royal Bank of Scotland in London. According to the company, this seminar represents a unique opportunity to engage in a discussion around the various roles biometrics could, or even should play in financial services. During

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Barclay’s deploys Nuance voice biometrics system for customer authentication

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Barclay’s Wealth Investment Management has implemented a Nuance voice biometrics system in its call center to quickly authenticate its phone-banking customers. Reported in ComputerWeekly.com, the specific system being used by the bank is called FreeSpeech, and is part of a US $450 million project to improve customer service across the board. Since implementing, Nuance suggests the solution has been widely adopted. According to the report, the system is always running and listening to the users voice. Customers are asked if

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Matt Smallman to keynote Voice Biometrics Conference, May 8-9, in San Francisco

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Opus Research has announced that Matt Smallman of Barclay’s Wealth and Investment Management will present this year’s keynote case study at the Voice Biometrics conference at the Fairmont Hotel in San Francisco, May 8-9, 2013. Smallman leads the Client Experience Strategy and Change team for Wealth and Investment Management at Barclays. In 2012, Smallman was part of the team that implemented the world’s first application of non-text dependant voice biometrics as the primary means of authentication in service centers. The

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