The Unique Identification Authority of India (UIDAI) has given banks until the end of the month to open Aadhaar enrollment centers in 10 percent of branches and will fine Rs 20,000 (US$312) for every uncovered branch after September 30, according to a report by Hindustan Times. The UIDAI, the governing agency in charge of Aadhaar, ordered private and public banks in July to open Aadhaar enrolment and updation facility in one out of 10 branches by the end of August.
Do you know who is transacting? A typical bank customer visits an ATM a few times a week and only rarely pays a visit to a human teller. In today’s anonymous landscape, how does the bank know who is transacting? The white paper “Enhancing Banking Services with Biometric Authentication” shows how biometrics answers this question while bringing user convenience to the table.
Some form of identity theft is at the heart of most financially-motivated fraud. Identity fraud and its derivative crimes cost banks, retailers, healthcare providers, governments, and ultimately consumers and taxpayers around the globe hundreds of billions of dollars every year This whitepaper can be downloaded — free of charge — and the reader can learn more about cloud-based biometric identity proofing and authentication services for mass markets.
This is a guest post by Maria Makedonas, Marketing Cooridnator for Argus Global, Sydney In Australia, the use of biometrics is becoming more prominent in the private sector. Biometrics is now common in the public sector, however it is also apparent biometrics can be used in the private sector and in many more applications as outlined in this blog post. Biometrics and banking: Financial institutions are talking about the use of biometrics for their customers such as opening an account,
France’s national interbank network, Groupement des Cartes Bancaires CB , is currently testing a biometric solution for payment transactions and is expected to approve a Natural Security Alliance-defined authentication standard this year for use in the CB system. The strong authentication method, which the Natural Security Alliance launched in March, strives to simplify and secure payments by a process in which cardholders place their finger on a biometric reader in store or at an ATM to validate a payment or cash
ITCARD has announced a new contract with Hitachi Europe for a line of ATMs with finger vein readers at 1730 Wincor Nixdorf and Diebold ATMs throughout Poland. The new ATMs with biometric readers will be introduced this year and will allow customers of participating banks to withdraw cash and other ATM operations using fingerprint biometrics. “ITCARD is a strategic partner who has cooperated with us since 2010. The Planet Cash project is the biggest step so far for ATMs in Europe
EyeVerify and The System Works Group (TSWG) have announced that TSWG NetTeller Mobile Money will integrate EyeVerify’s Eyeprint Verification across iOS and Android devices. “As financial institutions increase access to consumers’ sensitive personal data and banking services on mobile devices, the need to verify the identity of users is critical,” Chris Barnett, EVP of global sales and marketing for EyeVerify said. “As we integrate with TSWG, our Eyeprint Verification will enable financial institutions using TSWG NetTeller Mobile Money to add biometric security
The European Association for Biometrics and the Association of German Banks are hosting a workshop to discuss biometric banking applications and their practical use. According to the groups, participants in the workshop will discuss biometric systems to personalize banking transactions at the Association of German Banks in Berlin on May 21, 2014. International companies will present their current procedures and biometrics researchers will discuss future applications. “Especially in banking, the identity link is very important to ensure the legitimacy of banking transactions,”
TSYS has announced that its client in Vietnam, the Vietnam Export Import Commercial Joint Stock Bank – Vietnam Eximbank – has begun to deploy fingerprint authentication for its over-the-counter or ATM transactions. According to the company, Vietnam Eximbank is one of the first banks in Vietnam to apply fingerprint authentication, and the banks is looking to make these types of transactions common across Vietnam by working with other banks in the country. Currently, Vietnam Eximbank uses TSYS’ PRIME single-platform payment processing solution
DigitalPersona has announced that Coppel Corporation has chosen the company’s fingerprint technology to verify customer and employee identities in more than 800 banks and 1,000 Pension Fund Offices throughout Mexico, Argentina and Brazil. “Customers like the ease of use and assured identity that fingerprint technology provides them,” Ing. Jose Gpe. Mendoza Macias, national manager of systems development for Coppel Corporation said. “The fraud-fighting benefit of knowing someone cannot purchase goods on their account is also very important to our customers.” “In