A biometric HSBC?
HSBC’s decision to roll-out voice recognition and touch security systems is to be welcomed.
Biometric-based security systems are highly accurate, cost-effective and scalable. They deepen and strengthen bank defences by providing an unequivocal link to an individual, event or transaction while being very hard to forge. Yet they have been available for some time – those of a certain age will remember seeing them demonstrated in the late 1960s, when the Starship Enterprise deployed them in the TV series Star Trek. Indeed, Fujitsu has been providing its Palm Vein biometric solution to financial institutions in Brazil, Turkey, Japan and other countries for many years.
“British banks are now looking at biometric solutions with new eyes. The emergence of mobile ‘phones which are locked and unlocked using a fingerprint has made this easy-to-use technology familiar to a new mass market. And with the media regularly reporting stories concerning security breaches at financial institutions, banks recognise that maintaining customer confidence in their industry, systems and products is more important than ever. Thus, banks are looking to additional forms of protection that customers can clearly see meet their security needs.
“Deployment of biometric technologies in Britain banking is still in its infancy, but will become commonplace. Customers will become increasingly familiar with it as it enters other parts of their lives. Already, biometric technologies are commonplace in mobile phones and are increasingly appearing in workplaces, particularly in controlling access to secure locations and in enabling use of technology such as laptops, tablets and the PC mouse. As users become comfortable with the technology, and increasingly appreciate its value in strengthening security of personal information and transaction details, we expect deployments of biometric technologies to become a mainstay of the financial services industry.