Bank Muscat launches biometric system compatible with national ID card

Financial services firm Bank Muscat announced it has introduced a biometric system that is compatible with the national identification card. Available across its network of 137 branches, Bank Muscat’s biometric ID system is designed to improve efficiency and facilitate faster transaction processing times. The NID enables accurate data capture during banking transactions, particularly in the case of opening new accounts. Bank Muscat has teamed up with the Royal Oman Police to launch the new biometric identification system and ultimately provide

Nigerian banks plan to collect customer biometrics harmed by poor logistics

Just a couple months before commercial banks in Lagos, Nigeria were intending on launching the early stages of Bank Verification Number – a joint initiative led by the Central Bank of Nigeria (CBN) and the Nigeria Inter Bank Settlement System (NIBSS) designed to collect customers’ biometrics to curb fraud — it became apparent that poor logistics and inadequate reinforcement of shareholders may have already harmed the implementation, according to The Sun News Online. The BVN would essentially provide all banking

Hoyos Labs to demonstrate new app that uses biometrics at NYC event

Hoyos Labs announced that it will demonstrate its soon-to-be-released mobile app which uses a range of biometrics to replace usernames and passwords, at the upcoming FinovateFall conference in New York City. At the conference, Hoyos Labs will demonstrate the app to members of the financial community to illustrate how they can use the technology to easily safeguard their corporate and financial data. By essentially transforming a smartphone into a biometrics acquisition device, the app uses a “liveness” detection system that

Fonetic, Tango Networks bring mobility to voice biometrics and compliance recording

Fonetic announced it has partnered with business mobility firm Tango Networks to provide a comprehensive voice biometrics and compliance recording solution for global trading floors. As a result of the partnership, Fonetic will combine its speech analytics solution with Tango Networks’ mobile recording application to enable secure transactions, share important information, and securely record customer relations calls over a mobile phone. “Any compliance program is only as strong as its weakest link; and for too long mobile devices have been

Explainer: Biometric ATMs

Biometric ATMs are self-service automated teller machines (ATMs), or cash machines, that use a biometric measure to identify customers and allow them to withdraw cash. Biometric authentication may be the only customer identifier used, or it may be used in conjunction with another format, such as a payment card, a mobile device or an additional security credential, such as a PIN. The biometric measures used generally include palm or finger vein print biometrics, although they may also include other functionalities

Japan biometrics market to see 34.6% CAGR spike by 2018, says report

Analysts project that Japan’s biometrics market will see a 34.6 percent CAGR rise from 2013 to 2018, according to a new report released by ReportsnReports.com. The report, “Biometrics Market in Japan 2014-2018”, analyzes the current scenario and the many growth prospects of Japan’s biometrics market from 2013 to 2018. To calculate the market size, the authors of the report took into account the revenue earned from biometrics solution sales. In addition, the report explores the vendor landscape and analyzes the

Nexus Smart Pay gets new deployments for biometric fingerprint payment system

Nexus Smart Pay has announced nine new customers piloting the company’s biometric fingerprint payment system. According to the company, these nine companies include Great Harvest Bread Company, Fuddrucker’s Restaurant, BeauJo’s Pizzeria, Victoria’s Garden Floral Company, Untamed Accessories & Clothing, Signs Now, Black Hills Orthopedic & Spine Center, Eileen’s Colossal Cookies and Who’s Game House. Nexus Smart Pay uses what the company calls biocrypticology, which uses radio frequencies to analyze layers of the skin for verification. “We truly believe that this

France interbank network testing biometric payment options

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

Demand from govt, finance promoting growth in facial recognition market: report

Market research report distributor Reportstack announced on Monday it has published a new research paper called Demand From Government, Finance Promoting Growth in the Global Facial Recognition Market. The analysts behind this research paper looked at the impact of market drivers, challenges and trends regarding the global facial recognition market over the next 3 to 4 years. The paper features data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the

NASSIT Intros Biometric Registration System For Pensioners

The National Social Security and Insurance Trust of Sierre Leone (NASSIT) announced on Thursday it has operationalized the Biometric Registration System for its pensioners. The system uses a service-oriented architecture for central biometric data storage collected from both contributors and pensioners and uses the finger as the primary tool for biometric recognition, while facial recognition acts as the secondary means of verification. The system captures three fingers from both hands of the individual. The NASSIT team can visit any location