How Biometric Tech is Beneficial to Financial Security

biometrics for financial security

A rise in data breaches is prompting many banks and financial institutions to adopt biometric identification technology for customers and staff. (Photo courtesy of flickr).

The following guest post on the use of biometric technology for individual identification in banking and financial services was submitted by Maricel Tabalba.

A significant increase in data breaches in the past few years has urged many financial institutions to consider using biometric security. The Gemalto breach level index showed that there were 1,540 credit card related data breaches in 2014. Additionally, the Consumer Sentinel Network stated that the number one complaint in their database were concerns regarding identify theft.

Since credit cards are one of the most popular methods of payments, an increase in security measures is absolutely necessary. Even though online banking has revolutionized the banking industry, the release of new technology requires stronger methods of authentication to ensure that consumer financial information is not compromised. For the past few years, researchers have been developing and releasing innovative biometric technology that has lead to a more secure financial industry.

Current Use of Biometrics

In February of 2015, RBS and NatWest were the first two banks in the United Kingdom to enable bankers to access their accounts using fingerprint login. Not only will fingerprint login promote secure financial transactions, but the feature will provide a stronger customer experience. A report from Visa Europe concluded that approximately three-quarters of millennials support the use of biometrics to make secure payments on their smartphones. Many of the young participants in this study stated that biometric security would ultimately be more convenient than passwords, thus making the feature the preferred solution.

The advancement of technology has enabled biometrics to be used on a variety of different mediums including smartphones, iPads, and wearables. Perhaps the most popular device where people can use biometric technology is their smartphone. In today’s society, most people’s phones are at their fingertips, so using biometric authentication is quick and easy. In addition, many of the most recent Apple iPads are equipped with biometric technology called Touch ID. Touch ID is a revolutionary feature that can scan the fingertips for identification purposes. Biometric technology can also be seen on a new product referred to as wearables. Typically worn on the wrist, this innovative wristband can enable users to complete financial transactions with the assistance of biometric security.

Voice, Face, and Iris Recognition Technology

Touch ID was one of the first companies to begin offering voice verification biometric in 2015. Voice recognition adds another layer of account security and saves the user a lot of time. Despite its many practical benefits, this biometric may be not be as effective when people’s voice change due to illness and mood. Another factor that can affect the accuracy in voice verification is background noise.

Facial recognition technology can be used in many industries including banking and law enforcement. In the financial sector, passwords and PINs will eventually be replaced with a facial recognition biometric that can identify bankers on their phone, tablet, or laptop. In fact, a recent article in the Financial Times reported that customers of Lloyds Banking Group in the United Kingdom will be able to use this biometric to access their bank accounts soon. Although much progress has been made in the financial industry, many bank executives have voiced their concerns about the lack of headway in law enforcement as customer biometric information is not currently included in one of the FBI’s private databases, known as Next Generation Identification. If customers give the banks permission to release their facial biometrics to law enforcement, the authorities may have a better chance of solving cybercrimes.

Iris recognition technology is another effective biometric that can be employed by many financial institutions. Contrary to facial recognition that is not always accurate, this technology delivers positive results almost all of the time. Iris recognition technology simply snaps a picture of the customer’s iris for authentication purposes. There are many advantages to using iris recognition technology such as a fast search speed and a user-friendly interface. The biometric is also ideal for handling large databases. Since the feature involves one eye, there are only a few people who will not be able to use this technology. In some cases, iris recognition has even been successful for blind users.

Biometric Tech of the Future

Many corporate and academic labs are continually researching new ways to identify people with accuracy. A few years ago, a couple of scientists from New Delhi developed a digital image processor using gabor fillers to scan ears. According to a survey of ear biometric research, this new invention was only effective 92 to 96.9 percent of the time. Similarly, a few professionals from the Technical Support Working Group sought to invent a biometric that would successfully collect and store human odors for military canines. Other sources of biometric information that are being considered are heartbeat, sweat, and gait.

The future of biometric tech is extremely promising. In a few years, almost everyone will be using these features for authentication and this tech will continue to develop and better themselves in order to provide the best security possible for both consumers and business owners.

Author bio:

Maricel Tabalba is a freelance contributor for Credit.com who is interested in writing about personal finance advice for Millennials and college students. She earned her Bachelor of Arts in English with a minor in Communication from the University of Illinois at Chicago.

Is Your Home Security System Smart or Dumb?

using biometrics to secure your home

Home security has rapidly evolved beyond padlocks and deadbolts. Learn more about new technologies now available to better secure your place of residence.

Remember the times, when you used to buy those giant locks with massive keys to secure your houses? Or do you know how that was replaced by one central door key, which was too big to be kept inside your pocket? It’s true that time flies, but the other side is also true that it flies with a lot of changes. Today, security systems have become less complex and more technology based.

With huge technological advancements in recent years, life has become simpler and less of a painstaking journey. One of the best advancements is the ease in security systems provided by the invention of biometrics. This has become bliss for many businessmen and professionals cautious about their belongings.

However, do you think the usage of biometrics is limited for the business purposes only? Do you think the sophistication introduced in security systems is limited only for the people who can afford it? Be it a businessman or a homeowner, anyone can use a biometric security system at a low price and save their personal content from intruders. Besides being inexpensive, the setup is convenient to use as well.

If you are still doubting biometric security systems, let’s talk about some advanced biometric techniques to help you decide whether your security system is already smart or, requires an upgrade.

1) DNA Biometric system

Each person is different, clearly explained by their DNA. Each individual’s DNA is different than any other person in the whole world. For recognising the DNA of each person, the technology goes through extensive steps.

First, the system collects references through physical parts like hair, nail, blood or saliva. Afterwards, these samples are broken into small steps which consist of VNTR. Eventually, each fragment is sorted before getting compared to different samples. Due to these exhausting steps and processes, DNA biometric systems are not used widely like other biometric systems.

2) Vein Recognition

Vein recognition (vascular biometrics) is one of the latest inventions in biometric security systems. We know veins help carry blood to the heart. This biometric technique is unique as veins are inside the human body and this system works by transmitting near-infrared light via fingers and afterwards the camera records the vein patterns. The method makes use of pattern recognition to verify the authenticity of a user.

3) 2-D Barcode Scanner

2-D barcode is used to identify different products or items rather than humans. However, an amalgamation of biometric systems with 2-D barcode scanners helps in creating better and higher-level security level for identifying human beings.

This is widely used in scanning valid IDs like passports, voting cards and more with the individual’s fingerprints on them. The device is low in weight and installation is not complicated.

4) Facial Recognition

The name is good enough to tell you about this technology. This technology is widely used because of the ability to recognize an individual without them having any physical contact with a hardware device. Cameras put on the doors scan your face and match that with the database. Besides, the hardware involved is not expensive. The technology also synchronizes well with iris recognition and fingerprint identification systems. 3-D facial recognition is an rising trend where the system analyzes the relative body organs for a better authentication procedure.

5) Voice Recognition

Voice tract and accent are two factors that make every person’s voice unique. This technology is widely used in home security systems. These systems are less expensive and don’t demand heavy equipment.

Now the question that might pop up in your mind is about recording one’s voice and using it again and again. Well, these systems are smart and ask individuals to repeat few phrases to check if the voice is the same or not.

Information technology engineering has shown further growth by leaps and bounds and there are no second thoughts about it. Taking advantage of the same is the move that you should be making right now. More advancements lead to more ways to corrupt them, thus clinging to the latest and the trusted is the best and the only option left. So, what action will you take now? Is your smart home security system smart enough or rather dumb?

Author Bio: Samar Sood is a professional Content Writer and is currently working with Sharda University. The engineer loves to blog about technology.

 

Introducing CloudApper: The Benchmark in Rapid Cloud Development Toolsets

cloud development software

Introducing CloudApper – a rapid cloud development toolset that reduces development cycles, lowers costs, and removes the friction from identity management deployments. (Photo courtesy of pexels.com)

Back in the early days of the Internet, website content management was a bit more complicated. If you weren’t proficient in making modifications to Hypertext Markup Language (HTML), chances are that you hired a professional who used a platform like Dreamweaver to upload content changes via file transfer protocol (FTP). The process tended to be cumbersome and often required the services of a professional which meant that you were at the mercy of their availability.

Then, on May 27, 2003, Matt Mullenweg and Mike Little introduced the world to WordPress. WordPress fundamentally changed the way we manage website content by simplifying the process and offering an architecture that was easier to understand. According to Wikipdedia, “WordPress is by far the most popular website management or blogging system in use on the web, supporting more than 60 million websites. (http://bit.ly/2tAq7RJ).

Although platforms like Dreamweaver still exist, many of us now use WordPress to manage our websites because we can customize our approach, add and delete content whenever or wherever we want, and perhaps most importantly, we shed our reliance on using third party experts and developers to accomplish what we want in a way that is unique to our own audience.

Biometric software development can also, at times, be frustrating and exasperating but it doesn’t have to be. When you make the decision to use biometric identification there are 3 essential ingredients to the project:

  1. The biometric hardware (i.e. the physical device used to enroll and subsequently identify an individual – fingerprint readers, iris cameras)
  2. The biometric matching algorithm (i.e. the automated method that enables a biometric system to recognize an individual)
  3. The business software – where the biometric system integrates into

Over 15 years of experience implementing biometric identification management projects around the world for a variety of businesses and governments has taught us some very valuable lessons. For every successful deployment we see, there are much more that die at the hands of ballooning development costs and delays – many of which are 100% avoidable.

The ability to eliminate lengthy development cycles and circumvent additional, unplanned costs was our calling card to develop CloudApper – a rapid cloud development toolset which can be used to rapidly develop and integrate the business software ANY identity management project requires, with or without biometrics. No one wants to see their identity management project die at the hands of unnecessarily tying up existing resources in the absence of producing any results. Wasting time, money and resources when developing and deploying the business software layer for identification management solutions is over. Done. Finished. Gone.

Understanding that modern software development is also about personalization, we went a step further. We designed CloudApper to not only eliminate the lengthy development cycles that bog down so many projects we see but to also offer our end users the opportunity to customize the business software to address the unique needs of the customers they serve. Imagine that. The ability to tweak and adjust a business software layer based on what data is or isn’t important to you. It’s an unprecedented development in cloud data management and one we encourage you to explore.

Whether you are or aren’t interested in using biometric identification, we have used CloudApper to construct pre-configured cloud data management solutions that are customized for specific vertical deployments. For example, pre-configured (but still very much customizable) versions of CloudApper are available for the following verticals:

  • Banks, NGOs, and Financial Organizations
  • Jails and Prisons
  • Border Control and Immigration
  • Judicial Authorities
  • Public Administration Authorities
  • Manufacturing Plants
  • Transportation Authorities
  • Education and Student Tracking

This list is not exhaustive of all the verticals CloudApper can serve. In reality, the sky is the limit. CloudApper has the potential to be applied to ANY vertical that requires software to manage data. We encourage you to explore CloudApper and learn about it’s features and functions to determine if it is the right fit for your needs. And don’t forget that CloudApper already integrates with CloudABIS and CloudScanr enabling you access to a scalable matching system that supports various hardware devices and any web browser.

Here is a brief video about CloudApper:

For more information about the CloudApper rapid cloud development toolset, please send us an email at: info@m2sys.com or visit our website for more details.

 

Why Biometrics A Perfect Fit For Home Security

biometrics is a good strategy to improve home security

Is biometric identification management a good fit for home security? (Image courtesy of pixabay)

Biometric technology has empowered the security systems at major corporations, office buildings and government organizations for years, but now this innovation has finally trickled down to the consumer level. In addition to all the other features home security can offer, biometrics can now track individual physical characteristics for safety.

The biometric security systems for home integrate an innovative feature that allows individuals to enter a complex once a biometric scanning unit has identified that individual through the means of specific genetic attribute, such as a fingerprint, palm print. Controlling access to homes or office buildings and particular rooms is the key application of biometrics.

Biometric locks eliminate the need for a key and operate with the touch of a finger. Often referred to as a ‘keyless entry’, the door unlocks when an “approved” finger is swiped across a scanner. Moreover, losing your keys, forgetting to lock the door, and worrying about picked locks all become the things of the past. All you need is a thumb-sized scanner somewhere on the handle.

These locks are available in a variety of shapes and sizes to fit any type of door. When biometric fingerprint readers first came to the market, they had limited designs, but the market responded quickly and today you can find dozens of door-fingerprint combinations. Most of the locks are designed for front doors or garage doors and have a metallic look. Some have locks or deadbolts that lift up into secret scanner compartments if you really want to hide how your door works.

Personalized protection is another most advanced feature of biometric safety system, it permits only you and the other select people whom you have registered in the system to access your house or valuables. The scanners attached can store dozens of fingerprints, and grant temporary access to the home for contractors, or restricted access to the home for housekeepers and babysitters.

Today, even some biometric security companies offer several different kinds of wireless scanners. They fit in your hand like a remote control, read your fingerprint, and send a signal to your door to pop it open. This feature allows you to open the door from inside the house without moving from your place and manually unlock it.

Undoubtedly, biometrics represents the cutting edge of home security technology. With home
security the most crucial part of our lives, it’s time to start looking at the most advanced ways you can protect your family and home and learn to embrace the protection and convenience biometric system offers.

Author bio:

Keira is Digital Marketer at https://www.elitegaragewa.us/. She has a good sense of content marketing and loves to write. She has been writing a lot of stuff lately, covering varied topics. She is an avid learner who is passionate, curious, and creative. An explorer at heart, she loves to try on whatever tickles her fancy.

3 Uses for Biometric Security at Home

biometrics for home security

Biometric identification management is becoming a more mainstream technology for home security.

The following guest post on the use of biometric identification management to increase home security was submitted by Costea Lestoc.

As you begin looking around for the latest most innovative security options for your home, it’s definitely a good idea to begin looking into biometric scanners and locks. These advanced pieces of security use today’s best innovations with the top technology to create personalized protection at reasonable prices.

When we talk about biometrics, we’re talking about technology in the form of a scanner used to measure a person’s biology. Biometric devices can scan facial features, iris patterns, fingerprints, palm prints and other factors and differentiate person-to-person. This is useful as far as personal protection is concerned.

For devices being used in a residence, fingerprint scanners seem to be the most common. They are easy to use, quick, and avoid the necessary contortions needed for eye and facial scans.

It’s very easy to recognize biometric benefits. Only people keyed into the system can gain access to certain valuables. You never have to worry about locking your door or losing your keys again because biometric devices render them obsolete.

We’ll now take a look at some excellent uses for biometric security.

1. Keyless Locks for Doors

As far as biometric scanners are concerned, keyless door locks are the most common application. These door locks are fantastic because you don’t have to waste time fumbling around looking for keys when it comes time to unlock your door. You just put your finger onto the scanner, it will scan your fingerprint, and as long as you’re in the system you’ll be a match and it will open your door.

The great thing about keyless door locks is they come in a wide variety of shapes and sizes. You’ll be able to find a lock that’s the perfect size for just about any door.
In the past, when biometric keyless locks first showed up on the market, there really weren’t too many options available. Now the market has taken notice and there are dozens of options for fingerprint keyless door locks.

According to Stackify, keyless door locks are the wave of the future and they are easy-to-use, convenient, and lots of fun!

2. Better Security for Safes

Having a traditional lock for your safe is not always enough. Sometimes you need to take it a step further and use a highly personalized and advanced safe security system with a biometric option.

Biometric home safes are very effective and they’re easy to use. They operate on fingerprint analysis or they use palm print scanners. They are very effective at preventing the wrong people from gaining access to your safe.

Some will believe that having a biometric safe is overkill. Others recognize the value of this useful option. Some thieves will steal a safe from a home to bring it with them in order to open it up later. With a biometric safe, the thief isn’t even going to bother because they’ll never break into it anyway so there’s no point taking it with them.

3. Biometric Locks for Computers

Are you worried about people accessing your private data on your home computer? Or maybe you prefer to keep your information safe and secure at work? They now make biometric locks for computers to prevent prying eyes from seeing information that they shouldn’t have access to.

The great thing about biometric computers is you no longer need to set a password for your PC. Once the biometric scan takes place, your system will automatically open up, unlock, and you can use all your programs again. It’s very convenient and easy to use.

Conclusion

Updated home security measures are the wave of the future. Biometric home security door locks are just the beginning. Consider this amazing option to meet your home, business, and personal security needs.

Author Bio:

I began writing as a professional on my personal blog and then discovered my true calling, which is writing about technology and news in general. I am a technical writer, author, and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about juicy tech news and everything related to gadgets. For tech tips,my email address is neneacostea at gmail.

Secugen and M2SYS Partner on CloudABIS Biometrics Suite

cloud biometric identification

Secugen and M2SYS Technology announce a partnership designed to advance the adoption of the CloudABIS suite of biometric identification management solutions.

Today we announced a new partnership with Secugen to help customers using their fingerprint readers to accelerate their projects through the adoption of CloudABIS – a new suite of cloud-based biometric identification management tools designed to help lower the costs and remove the friction for authentication projects around the world.

If you haven’t heard about the CloudABIS suite, we have some exciting news to share. As longstanding pioneers in the biometrics industry with a strong track record of designing and developing innovative biometric identity management solutions that lower the costs and speed the adoption of this technology, M2SYS is pleased to now offer the CloudABIS suite that enables anyone in the world to quickly develop and deploy a highly scalable solution that avoids the risk, cost, and burden of the development time and maintenance so often required for these types of projects.

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The Different Ways Your Staff May Be Stealing Time and What You Can Do About It

stop employee time theft with biometric identification

Biometric identification has proven to help stop employee time theft and increase profits.

Time theft can occur in your business when you pay an employee(s) for work they either have not done, or you pay them for time when they were not on the premises. With the growing remote and mobile workforce, time theft has become a much bigger issue for employers. In fact, it has become so big, millions of dollars are being lost every year in productivity. Some other businesses are using factoring invoice companies to pay employees who have cheated the system. This puts a dent in cash flow by paying for work that was not completed.

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How Biometrics Will Transform the World of IT Security

The following gust post on biometrics increasing IT security was submitted by James Daniels.

It is a fact that passwords can no longer provide sufficient security for your data. The problem with the use of passwords and usernames for security is that they can easily be bypassed by hackers and rogue employees. Due to these obvious flaws related to use of passwords as security measures, biometrics are fast becoming the norm when trying to guard access to critical data. Here are some of the reasons why biometrics are the future of data security.

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Offshore Development Companies Are Bringing Biometric Identification Management Technology in Banking Sector

use biometrics to identify customers and employees in banking

What impact has biometric identification had on the global banking industry? (Photo courtesy of pixabay)

The followin guest post on biometric identification in banking was submitted by Vin Boris.

BIMT (Biometric Identification Management Technology) has been in use for decades. This form of technology has proven its metal and has entirely changed the way security practices are conducted in every field of our life.

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Is Biometric Technology The “Go To” Solution To Prevent Bank Fraud?

Introduction

Data breaches in banking have become commonplace all over the world. Most banks and financial institutions continue to rely on historical password based security systems which are increasingly susceptible to cyber breaches and no longer able to reliably secure data or to prevent bank fraud.

Continuous data breaches in the banking industry clearly demonstrates how antiquated existing identification security is, and something has to change. Due to the challenges that passwords, personal identification numbers (PINs) and physical ID cards present, the banking industry is searching for new technologies which can provide stronger data protection from hackers and they are now considering biometric solutions to solve the problem.

Banking Data

Is biometric identification management technology the answer to improving bank security and creating an indisputable, concrete audit trail of transactions? Image Source: Pexels.com

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