This Online Banking Platform Uses Palm Vein Biometric Technology
Katherine Pendrill — September 9, 2015 — Tech
'Fiserv' recently integrated palm vein biometric technology into its online banking platform. While many financial institutions have introduced fingerprint-based passcodes, Fiserv has gone a step further by using an individual's palm print as a way of verifying their identity.
The new technology is called 'PalmSecure' and it involves a series of sensors that utilize infrared light to identify a user's palm vein pattern. The sensors generate a unique biometric template that is then matched against the palm print of a registered user. The process of scanning a user's palm takes less than a minute and can yield a match in mere seconds. Once a user has been identified, they can use the service to withdraw funds or access their safety deposit box.
The palm vein biometric technology gives consumers a secure option for accountholder verification, which ultimately helps to reduce the risk of fraud and identity theft.
The new technology is called 'PalmSecure' and it involves a series of sensors that utilize infrared light to identify a user's palm vein pattern. The sensors generate a unique biometric template that is then matched against the palm print of a registered user. The process of scanning a user's palm takes less than a minute and can yield a match in mere seconds. Once a user has been identified, they can use the service to withdraw funds or access their safety deposit box.
The palm vein biometric technology gives consumers a secure option for accountholder verification, which ultimately helps to reduce the risk of fraud and identity theft.
Trend Themes
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Palm Vein Biometric Technology — The integration of palm vein biometric technology in online banking platforms opens up opportunities for enhanced security and identity verification.
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Palm Print Verification — Financial institutions utilizing palm print verification can improve account security and minimize the risk of fraud and identity theft.
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Infrared Palm Scanning — The use of infrared palm scanning technology allows for quick and accurate identification of individuals, enabling efficient and secure transactions.
Industry Implications
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Financial Services — The financial services industry can benefit from integrating palm vein biometric technology to enhance security measures and improve customer trust.
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Biometrics — The biometrics industry has an opportunity to develop and provide palm vein scanning technology for online banking platforms, facilitating secure customer authentication.
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Cybersecurity — The cybersecurity industry can capitalize on the need for secure palm print verification solutions, offering innovative tools and services to protect against identity theft and fraud.
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