ISR News: US Banks Going Biometric
Excerpts From Finextra.com
The US-based Financial Services Technology Consortium has launched a project to investigate the use of biometrics for verifying customer IDs.
The FSTC says over 20 banks have expressed an interest in the project, including the American Bankers Association which has signed on as a sponsor.
Dan Schutzer, executive director FSTC says the programme will endeavour to develop a methodology for banks to better select, specify, evaluate and deploy biometric applications with greater customer acceptance.
“We also hope to identify and validate at least one or two of them that will make an immediate impact in the fight against identity theft and insider fraud,” he adds.
The initiative grew out of a panel discussion at a joint FSTC/Bits summit in early March. A follow-up meeting is planned for later this month at Wells Fargo Bank in San Francisco.
A global survey conducted by Unisys last year found that 72% of US citizens would be willing to undergo fingerprint scans to verify their identities when dealing with banks and government organisations.
Filed under: Financial, ISR News, PCI, Sarbanes-Oxley, Uncategorized, hackers, identity-theft, national security, privacy
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