EAB presenting Biometrics in Payments session at European Payment Summit

The European Association for Biometrics (EAB) will be presenting a ‘Biometrics in Payments’ session at the European Payment Summit (EPS) on Wednesday, March 8, 2017. The session, moderated by EAB co-founder and Secretary Max Snijder, will provide an up-to-date briefing on developments and trends of biometric applications in financial markets and the transaction space. Onegini and UL TS BV will join the panel discussion. The European Payment Summit (EPS) offers a two day program featuring key developments for and by

Unisys introduces digital banking software platform

Unisys Corporation has unveiled Elevate by Unisys, a digital banking software platform and suite of applications that assists financial institutions of all sizes with delivering a secure, omnichannel banking experience to their customers. Anchored in Unisys’ Retail Banking Delivery platform, which is used by more than 125 banks worldwide, the built-in adaptive biometric and data analytics used to identify customers, authenticate access and validate transactions also helps to reduce fraud, meet regulatory requirements and reduce PCI and related compliance costs.

Wells Fargo working on voice-based payment capabilities

Wells Fargo & Co. is developing a voice biometrics-based payments offering for consumers that will reportedly expand beyond the basic day-to-day functionality offered by current virtual financial assistants, according to a report by DigiDay. “These digital assistants like Siri or Alexa — these things are just starting,” Steve Ellis, head of Wells Fargo’s innovation group, said. “There’s a really big future here for how our customers interact with us. We are starting to do proofs of concept with information exchange

Biometric authentication kiosks used to process new banking customers

The Commonwealth Bank of Australia (CBA) reports that the 685 biometric authentication kiosks introduced in the last year by its South African subsidiary Tyme have processed 100,000 new customers in that country. According to a report in iTnews, the bank claims the kiosks can process new customers in under four minutes by utilizing biometric authentication, and at a cost to the bank of just $4 per new customer. The Android-based, wi-fi connected machines are about the same size as an

Entrust Datacard building out continuous authentication capabilities

The ability to continuously authenticate a user during a session is a major opportunity for financial and banking companies with mobile customers, says Entrust Datacard global vice-president of authentication Ryan Zlockie. Entrust Datacard will make announcements related to continuous authentication at RSA 2017 and in March, the later related to biometrics, Zlockie told Biometric Update in an exclusive interview. “A lot of things are changing with the banks, that are really putting authentication even more front and center,” Zlockie says.

Fintech firm acknowledged for its palm authentication solution

Fiserv, Inc. has been recognized with a Technology Association of Georgia (TAG) Fintech ADVANCE Award for its Verifast: Palm Authentication solution. Fiserv has had a significant presence in Georgia for more than two decades and is one of the largest technology employers in the state. Verifast: Palm Authentication from Fiserv leverages Fujitsu’s PalmSecure technology, using near-infrared light to capture and confirm a financial institution employee’s or customer’s identity via a unique palm vein pattern, making biometric authentication unobtrusive and reducing

Bahrain fintech firm appoints new CEO to drive biometric payment solution

Bahrain fintech solutions provider Eazy Financial Services B.S.C. has appointed Mr. Khaled Abdulkarim Al Ahli as its CEO to help drive adoption of its about-to-be-launched biometric payment network. According to a company statement, the patented fingerprint-based payment solution is the region’s first to use biometric data, rather than cash and cards, to enable users to perform everyday financial transactions. “This revolutionary financial technology is the first of its kind to combine the security of biometrics with the speed and convenience

New York banks look to adopt biometrics in compliance with new cybersecurity rules

New York banks, insurance companies and other financial institutions are preparing to adopt multi-factor authentication including biometrics in compliance with the new cybersecurity rules, which take effect on March 1st, according to a report by Bloomerg BNA. New York Department of Financial Services’ (NYDFS) cybersecurity program is intended to protect consumers and ensure the safety of the state’s financial services industry. One of the requirements of the NYDFS cybersecurity program calls for organizations to use multi-factor authentication “to protect against

Aurionpro launches multimodal biometric self-service bank kiosk

Aurionpro Solutions has released the Virtual Teller Machine (VTM), a fully integrated multimodal biometrics self-service kiosk for automating 90 percent of banking transactions at a branch. Launched at last month’s IBEX India Conference in Mumbai, VTM is the latest addition to Aurionpro’s Branch-in-a-Box product series. Equipped with multimodal biometrics and interactive video telephony, the VTM helps migrate routine transactions like electronic know your customer (eKYC), account opening, passbook printing, cash and cheque deposit, along with personalized instant card issuance and

Innovatrics presenting on facial biometrics for mobile banking at FinSec 2017

Peter Martis, face recognition business unit director for Innovatrics, will present a live demonstration of IFace Mobile and speak about facial biometrics for mobile banking at FinSec 2017 later this month in Dubai. Martis will cover topics including: selfie login as a second authentication factor; user experience and adoption rate, and; pitfalls and things to consider. The FinSec Summit brings together decision makers and solution providers to share experiences and address key challenges. CISO professionals will discover the latest technologies,