Biometric are automated
and smart technique through which one can identify a person through their
physical and biological characteristics like facial recognition, fingerprint,
iris recognition, retinal recognition, and signature and voice recognition. Bio
metric are difficult to forge or duplicate, as they are unique to every
individual. Biometric technology helps in ensuring maximum privacy and protects
the clients. Biometric technology is cost effective to banks as it eliminates
the need to remember passwords, PIN number, and card number.
Biometric technology
helps in conducting secure financial transactions and helps in keeping the
customers privacy confidential. Many banks around the world are using biometric
technology to maintain secrecy and confidentiality of employees and clients. In
Asia 52% of the banks are utilising the biometric technology. In Japan 15 lakh,
customers are happy with the new features of biometrics such as face
recognition and finger print scanner. Banks in Mexico, South America are also
fast learning about the wonders of the secured biometric technology. Most of
the banks are shifting to the biometric system, as they are easier and efficient
than the traditional security feature of identification number code and
password.
Bio metric technology aims
at keeping the confidential information of the banks private and inaccessible
to unauthorized personnel. This helps in reducing frauds and insider defaults.
The employee has to submit the audit form for every transaction they register.
Biometric technology
helps in protecting the privacy of the customer identity. For better customer
care and security the banks has to upgrade their technology. This is provided
to the customers in the form of voice recognition system, iris scanner,
fingerprint verification, and vein pattern.
In India, various banks
have adopted biometric systems. DCB Bank ATM has a special feature of security
installed in it which makes it different from other banks ATM’S. It requires the
customers fingerprint to withdraw money. The ATM operates using the Aadhaar
card details of its customers.
HDFC banks are focusing
on rural areas ATM booths. Since most of the villagers find it very hard to remember,
the PIN number of the debit card, biometric finger scanners are helpful. The Aadhaar
card linking of customers to banks also serves as a KYC verification
checkpoint.
Federal Bank of India has
introduced a feature of zero balance and selfie account. The current obsession
of this generation is to take selfies. Federal bank saw this as a security
feature to its customers. A person van now download the banks app in their
mobile phones. The next procedure is to scan their PAN or Aadhaar card and
click a selfie to open the account. Once the verification is done, passbook
feature of the app is activated.
ICICI bank has introduced
voice recognition facility for easy transaction and requirements of customers
in Banks call centre. Customers are no longer required to remember the PIN or
password as their voice will act as a key to open their account or enable the
query feature of the bank. The voice recognition technology works on the
principles of speed, accent and pronunciation, which are unique to every
individual.
SBI has introduced the
concept of finger print scanner for securing the core banking information. If any
employee needs, access to the core banking or sensitive information of the
customers the employee should scan his fingerprint and the senior officials grant
permission for the same. 21000 branches across India will be implemented with
this software.
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