Market Segments
Productivity, innovation, and compliance are essential elements for success in the financial services industry. But complex passwords and authentication token can drain user productivity and strain help desk resources. Now there is a better solution through "Finger Print Biometrics " authentication built for enterprise computing.
Biometrics, which verify an individual's identity based on their unique physiological and behavioral characteristics, offer advantages of enhanced security, convenience, and time efficiency, which benefit financial institutions.
Banks & Non-Banking Financial Institutions
The following areas/applications can help the banks to enhance security
Access Control :
To protect the bank's physical security facilities like Vaults, lockers, etc.
Application Access Security
Information residing on a system that is accessed by many users, however, can also create problems. A significant concern is ensuring that users have access to information that they need but do not have inappropriate access to information that is sensitive. It is also important to ensure that certain items, though readable by many users, can only be changed by a few. This is extremely relevant in Core Banking environment, where the application servers located centrally is accessed by the branches. Banks still use conventional password as an authentication system. Password has the risk of being compromised or forgotten.
Fingerprint Biometrics as additional authentication offers the users a convenience of not needing to remember or a physical device to be authenticated
Solutions for unbanked
Our innovative biometric solutions help bank to serve vast rural population ,which are underserved due to illiteracy and distance from bank branches. Banks can capture the user's fingerprint( living in a remote location or village) on a fingerprint reader at the local machine and then translates the encrypted biometric data to the server for authentication. The authentication takes place at the website's host environment versus the local machine - behind appropriate security technology. No record of PINs, passwords, or biometric data resides on the local computer.
Retail Sector
The Global Retail Theft Barometer Survey Information Report 2008 ,conducted by Centre for Retail Research, UK ,covering 920 large retailers across 36 countries has rated India with the highest shrinkage rate at 3.10% this year, an increase of 6.9% over last year.
One of today's biggest concerns for retailers is how they can properly secure their retail point of sale systems. Not only do retailers face growing concerns surrounding their customers' sensitive information, but they also must protect their sensitive business information including their costs, sales numbers, profit margins, etc. One dishonest employee or unscrupulous outside hacker can trigger a very large-and very expensive-disaster
The retail point of sale system(POS) assigns a unique password to each terminal. But if even one password is stolen or misused, the POS is vulnerable to attack. Once inside the retail software, the intruder could change prices, lower the quantity on hand, delete items, steal the customer list, or take any number of other damaging actions. And if the retail point of sale system was accessed with a stolen or hacked password, finding the responsible party can be almost impossible.
Biometrics technology ,when integrated with POS terminals offers unambiguous audit trail ( who has access and when) and reduces cash register shrink from improper voids and customer returns. It also solves other employee facing problems such as "buddy punching" and "lollygagging" when punching into work and then taking time before arriving at work terminal