COLLAB distinguished with the APDC / Siemens Innovation Award

Banking customers prefer biometric technology

COLLAB distinguished with the APDC / Siemens Innovation Award

A study commissioned by Fujitsu concluded that the lack of confidence generated by the increase in attacks by phishing banking websites can lead to the introduction of biometric identification systems, in order to ensure greater security. According to the study, one in three citizens believes that banks should adopt biometric technology as a way to fight fraud.

Phishing attacks that intend to steal access information to banking sites are becoming more frequent and every year they give thousands of euros in losses to banks, in addition to other problems in access control, such as duplication of credit cards and the theft of personal codes.

In Japan, ATMs based on biometric technology are already being tested. Using a proprietary Fujitsu algorithm, a pattern of the blood vessels in the palm of the hand is created, after which a scan is performed and verified if the data are compatible with those stored in the database. For those who fear hygiene problems or reproduction of fingerprints, the system can read without physical contact.

The same survey found that the use of banking websites is decreasing. About 29 percent of respondents (out of a thousand) gave up using the service online due to the susceptibilities it offers. «The UK has to rely on the experience of financial institutions around the world if it wants to reduce bank fraud. Biometric security can be used to boost customer confidence,» commented Ann Hosford, services business development manager Fujitsu Services financial statements.

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