M2SYS Recognized as the Top KYC Solution Provider by CIO Review

Recently CIO business review recognized M2SYS as one of the top KYC solution providers. KYC is known to be the armor of the banking industry to fight against bank fraud. Modern KYC processes utilize top-notch technologies such as AI, biometrics, social biometrics, the blockchain, and many others. M2SYS provides biometric account holders and non-account holders identity solutions for banks to accurately identify their customers.

CIO Review is a technology magazine that talks about enterprise solutions that can redefine the business goals of enterprises for tomorrow. Every year their editorial board features the best solution provider who is the change maker in their industry. This year CIO Review features M2SYS for its customizable biometric identity management solution for the ‘know your customer’ initiative in the banking and financial services industry.

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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) ...

Biometric Authentication to Stop Money Laundering in Pakistan

Recently The State Bank of Pakistan has mandated all of its banks to start verifying all of their account holders using biometric technology. The goal of this exercise is to stop money laundering in Pakistan. In the past; opening a bank account only requires the account holder’s details in printed/written form along with their id cards. However, after this current announcement, to open a bank account in Pakistan, one has to provide biometric data using an e-registration system. This procedure is also applicable for those who have registered before without biometric verification process. Many private banks throughout the globe have already deployed biometric identification solution to reduce fraud at their banks. Biometric technology help banks to know their customers better and revolutionize their KYC process. After implementing the biometric solution from M2SYS for customer identification in the microcredit loan process, this helped Grupo Monge (Costa Rican Capital Corpor...

Car Rental Giant Hertz Deploys Biometric To Improve Customer Experience

The car rental giant Hertz recently deployed biometrics in their process to speed up the car rental process for their customer at Hartsfield-Jackson Atlanta International Airport. This will make them the first rental car company to deploy biometrics in their system. Over the years we have seen the evolution of biometrics in different sectors. It has migrated over the last 50 years from secure government facilities to banks, airports, mobile phones and even to offices that ensure security just by a single touch. For example, the Nigerian Communications Commission (NCC) deployed a biometric SIM card registration system throughout the country using our Bio-Plugin™ image capture system and M2-EasyScan™ fingerprint reader. This deployment of the M2SYS biometric identification solution has helped telecommunications companies and the NCC to create a centralized database that includes over 140 million SIM card user fingerprint biometric templates to more easily trace and track mobile ac...

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