Biometric Technology from M2SYS to Revolutionize KYC Process in Banking

Banks and financial institutions worldwide are determined to provide convenient and personalized customer service without increasing exposure to the threats of cyber-attack and fraudulent activities. That’s why they have introduced KYC (Know Your Customer), a process that evolves to collect and protect customer’s information and personal details from outside threats. Traditional pen and paper-based KYC process are not sophisticated enough to provide seamless customer experience and safeguard from fraudulent attacks.

How M2SYS is Revolutionizing KYC in Banking

M2SYS, one of the leaders in the biometric technology industry, continuously researches the next generation identity management solution and knows all the downsides of a conventional KYC process. Working with the identity management industry for more than 17 years, M2SYS has developed CertisID, a solution that transformed the whole KYC process. It is a biometric-based account holder and employee identity management solution for banking and financial institutions. This solution is designed to streamline the process of KYC, bringing authentication accuracy and efficiency to secure every transaction. Read more…

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Iris Recognition vs. Retina Scanning – What are the Differences?

In biometrics, iris and retinal scanning are known as “ocular-based” identification technologies, meaning they rely on unique physiological characteristics of the eye to identify an individual. Even though they both share part of the eye for identification purposes, these biometric modalities are quite different in how they work. Let’s take a closer look at both and then explain the similarities and differences in detail: Retinal Scanning: The human retina is a thin tissue composed of neural cells that are located in the posterior portion of the eye. Because of the complex structure of the capillaries that supply the retina with blood, each person’s retina is unique. The network of blood vessels in the retina is so complex that even identical twins do not share a similar pattern. Although retinal patterns may be altered in cases of diabetes, glaucoma or retinal degenerative disorders, the retina typically remains unchanged from birth until death. (Source: Wikipedia) ...

Finger Vein Biometrics Identification for Membership Management Software

An article published today in the University of Vermont’s campus newspaper The Vermont Cynic reported that the campus recreation center has adopted M2SYS finger vein technology for student member identification. Tim Lewis, associate director for campus recreation made the decision to use finger vein biometrics for member identification after brainstorming ideas on how to eliminate students carrying ID cards. Happy to see our finger vein biometric identification system used at the University of Vermont through a partnership we have with Vermont Systems, a recreation and parks software provider based in Essex Junction, VT. Modern-day membership management software is designed to help create efficiencies that antiquated methods simply can’t provide. In an effort to eliminate ID cards, prevent identity fraud, and create a more convenient user experience, many membership management facilities are evaluating vascular biometrics (finger vein) for identification because of the distinct ...

Misinformation about Biometric Technology Continues to Fuel Functionality Misconceptions

Today, we came across the following blog post from Guy Huntington at Infosec Island: “What Happened to My Biometric?” In the post, the author discusses the inherent dangers of opting into a biometric identification system by providing your fingerprint and the possible negative privacy and identity theft consequences if a user does not make sure that their biometric template is deleted from the system if they leave or opt-out. Our take: While we are always pleased to see biometric technology pop up in the news or through blog postings, we often cringe when we see these types of articles that essentially do not accurately depict biometric technology, and leave readers with ill-conceived perceptions about how the technology actually works. Anyone who works in the biometric industry can attest to the fact that there is never an image of a user’s fingerprint stored. The truth of the matter is that biometric enrollment templates stored on a server are not actually an image of t...

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