Biometrics in the Banking Industry
#1

PRESENTED BY
D.SINDHUJA
B.RAJESWARI

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Biometrics in the Banking Industry
Gateways for Biometrics

 Transaction Security
 Securing client transactions and protect their privacy either remotely or onsite
 Network Security
 Security of the bank’s infrastructure, controls what activities specific individuals or job functions have access to
 Access Control
 Protecting the physical security of facilities (vaults, safety deposit boxes)
 Background Checks
 Protect against internal fraud and illegal transactions with applicant background checks
Fingerprints
 Most commonly used biometric in the banking industry
 Used in all areas of the banking industry
 Transaction security
 Network security
 Access control
 Background checks
 Advantages
 Equipment is cheap
 Highly accurate
 Disadvantages
 Criminal stigma
 Universality
Fingerprint (Transaction Security)
 Goal: enable clients to authenticate themselves before any transactions are made on their account
 Enroll customers when the account is created with their fingerprint
 When wishing to access their account, they must first provide their fingerprint to be verified
 No ID card is needed
 Provides non-repudiation
 Uses
 In bank, ATM, kiosk, online
 Example
 Banco Azteca: the first bank to be opened in Mexico since 1995
 Allow people with limited incomes that live in poor and rural communities to establish a bank account for the first time.
 Sparseness of banks
 No form of authentication (driver’s license)
 Account ID cards were often lost or stolen
 Digital Persona technology was used to protect accounts using fingerprints
 1.2 million customers of Grupo Electra are enrolled
 Many customers were farmers and construction workers whose prints were damaged and worn
 1 out of 4 people failed to enroll because of low quality prints
Fingerprint (Network Security)
 Protect against internal fraud (employees tampering with the system)
 Enroll and authenticate bank employees before they can access the bank’s network to perform a transaction
 Example
 Bank of Central Asia (BCA) in Indonesia has around 8 million customers throughout the country
 Incorporated Identix fingerprint systems to secure the processing of high-value electronic fund transactions
 If a large transfer is initiated, the teller and possibly a supervisor need to be authenticated by the system before the teller can finalize the transaction
 Non-repudiation: the teller cannot deny performing the transaction
 Duress finger
 If under duress, the teller can authenticate with a duress finger (alerting the police)
Fingerprint (Access Security)
 Instead of using a key or card to for access, use a fingerprint
 Access to the bank, vaults, safety deposit boxes
 Example
 Deutche bank is a European financial service provider with ~65,000 employees
 Installed AC Controls security to establish biometric access to their building
 Fingerprint readers determine who can enter their offices and also restricts what areas each person can access
Problem:
 A one day visitor would need to enroll with the bank, to gain access to parts of the building
 Consumers may be reluctant to enroll their biometrics with multiple organizations
 Morpheus technologies: develop a network of secure, licensed enrollment facilities
 Standardization + Interoperability
 Fingerprint (Background Checks)
 Submit requests for backgrounds electronically
 Background checks ensure the integrity of the employee base
 Example
 ING Direct installed live-scan fingerprint readers that channel electronic submissions to the FBI IAFIS database (Identix)
 Before background checks took 4-5 weeks
 While waiting, the prospective employee would be trained
 If the results effect the hiring, much money was wasted during training
 Now, checks can be done in 4-5 days
 Able to wait this period before training
 Voice
Main advantage over fingerprints:
 Works remotely (by phone), without special readers
 Used for transaction security
 Verifying the customer is the rightful owner
Vein Pattern Recognition Advantages
 Highly unique to every individual
 Patterns are formed at birth and remain constant throughout one’s lifetime
 Rapid, non-invasive enrollment and verification procedures
 Works only on living, vascularized hands
Vein Pattern Recognition Disadvantages
 Injuries or deformations to the hand may cause failure to enroll
 Systems which require contact may be considered invasive/unhygienic
 Some systems still require PIN or other identification
 Vein Pattern Recognition
At Work
 Southeast Asia
 Several international financial institutions have implemented vein pattern recognition systems from VeID Ltd.
Hand Geometry
 Based on measurements of the hand
 Robust to environmental changes
 Easy to use
 Ageing, deformities may affect verification
Hand Geometry At Work
 First Bank Puerto Rico
 Installed IR Recognition System HandPunch terminals at all branches
 Employees must swipe an ID card and verify with a hand scan to punch in and out of work
 Attendance and tardiness have been cut down, as well as labor devoted to monitoring these problems
Conclusions
 Biometrics are already being used in banks around the world:
 North and South America, Europe, and Asia
 Biometrics being used include:
 Fingerprints
 Signature
 Vein Pattern
 Hand Geometry
 These systems can be applied to virtually every aspect of the banking industry:
 Transaction Security
 Employee attendance
 Network and Database Security
 Access to facilities
 The banking industry is very reluctant to change its existing infrastructures
 It is expected that biometrics will take longer to be incorporated into the banking practices
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