Idemia bringing augmented vision, biometric cards and dynamic CVV to India’s financial sector
A huge demand for touchless biometric solutions in India’s Banking, financial services and insurance (BFSI) industry is driving solution provider Idemia’s involvement in the sector, according to Pierre Alain Bauer, senior vice president for Biometric Devices at Idemia.
The executive tells The Hindu Business Line that the identity-focused company is working to bring new products to the Indian market to facilitate biometric security and payment solutions.
“We want to be the clear technology leader for biometric solutions in the Indian market. We do recognise that India wants the best of security and convenience when it comes to biometric solutions and at the same time is price sensitive. So we are developing the next generation of products that will appeal to Indian market and make us both a volume and turnover leader here,” says Bauer.
In February Idemia partnered with Federal Bank Limited India to provide contactless biometric access control to the bank’s employees. The solution allowed employees to authenticate themselves through iris and face biometrics for attendance and access control purposes.
Idemia is currently working on implementing fingerprint access control MorphoWave compact in the country, along with F.CODE biometric payment cards, facial authentication access control device Vision Pass, dynamic card security code solution Motion Code, which changes the CVV number hourly, and video analytics software Augmented Vision.
A recent survey conducted by Idemia also found a strong positive response for consumer perceptions to the adoption of biometric bank cards which makes transactions more streamlined and efficient.
The company is now looking to align with the Visa or Mastercard networks to bring Motion Code to India, according to Bauer, who also hopes that an Augmented Vision system will be implemented at a large scale in India this year.
Biometric device vulnerability patched
Idemia is urging users of its MorphoWave, VisionPass, SIGMA and MorphoAccess devices to update their firmware to head off critical vulnerabilities identified by Positive Technologies, according to an announcement from the latter.
Three vulnerabilities were discovered by four researchers with Positive Technologies, the first of which is a Buffer Overflow vulnerability with a 9.8 CVSS v3 score, which signifies critical severity. If exploited, the vulnerability could lead to arbitrary code execution by attackers, potentially allowing them to open doors to biometrically-secured areas.
The other two vulnerabilities are Heap Overflow and Path Traversal vulnerabilities, and are less severe, but could still result in denial of service and unauthorized command execution, respectively.
The company has issued a report with further details and guidance for support.
Idemia will also present its financial results for the first half of 2021 to investors on July 27, 2021. President and CEO Pierre Barrial and COO and CFO Didier Fontaine will present the results and take investors’ questions at 4:00pm CET.