The banking system has been around in some capacity forever and evolved in many ways over the years. In recent times banking has become more convenient and with mobile devices and computers it has become more a part of our daily lives. The biggest concern to banking has always been security. The banking industry tries to continuously upgrade security to protect customer’s money and assets. Just recently Russia put in an innovative new security solution for their banking industry.
Last year on December 26th, The Russian Federal council passed the law of remote identification of personnel through biometric measures. This will be greatly beneficial for people who may be disabled or elderly, or do not have reliable access to get to banking facilities.
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Grupo Monge’s Deployment of Biometrics for Customer Identification in the Micro Credit Loan System
With this system people all across the country will be able to access any banking services from any bank, just from about anywhere remotely through their phones or PC. All the customer will need is a camera and a microphone on their device. This technology will be further upgraded and made more common allowing people to just use their smartphone for their banking.
Before customers can use this technology they must go to the bank and record their voice and do a facial scan. The registration will be done by a representative of the bank in the Unified Authentication and Identification system (ESIA). In the system their biometric samples such as voice and face image will be taken and sent to a single hybrid biometric platform. Once the registration takes place, that account holder will be able to do any form of transactions through their smartphones, tablet, or pc. Taking loans, transferring account, paying bills will then be done from anywhere just by sending biometric authorization to the ESIA system.
CertisID™ is a financial solution from M2SYS Technology which would have been a great fit for the Russian banking system. This great biometric customer and employee identification for banks is designed to track and eradicate any fraud or theft. It is specially designed to protect assets by establishing a clear history of the transaction for audit purpose. This is a complete hybrid biometric system which means this unique system supports fingerprint, finger vein, palm vein, iris, facial, and voice recognition. This system enrolls not only the account holders but also tracks the non-account holder and tracks their records too for future needs. Russian Federal Council will have all the things they want implemented with CertisID™ and if they choose to use this they will have more since it has more functions for better security.
Day by day, banking security is getting more and more complex and it requires a concrete wall of assurance where customers will feel safe. CertisID™ is the tool, banks or organizations can build that wall with. This system goes perfect with all financial organizations and banks and provides the maximum security using biometrics.