Should all Micro-Credit Banks Use Fingerprint Biometrics Banking Technology?

Perhaps foreshadowing a future shift for micro-credit banks across the globe to start using biometrics for customer identification, we distributed a News Release today announcing that ASMAB, a micro-credit bank in the country of Benin, has started to use fingerprint biometric banking technology for customer identification. The genesis for ASMAB’s decision to start using fingerprint biometrics was the widespread fraud and corruption that plagued their business, specifically customers falsifying their identities. These problems were undermining customer confidence in their process so ASMAB (with help from HPC Informatique, a technology solutions provider) decided to incorporate fingerprint biometrics to identify customers, eliminating fraud and corruption in their system and helping to secure consumer confidence.

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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...

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) ...

Enterprises to Adopt Biometric Middleware Solutions in Next 10 Years

According to a recent report by FactMR, the biometric middleware solution market is likely to see more demand in the coming years. This kind of solution facilitates enterprises to rapidly deploy biometrics solutions without any development hassles within a very affordable budget and the demand is rising dramatically. What is Biometric Middleware? Biometric middleware is a ready software solution that facilitates biometric identification (1:N) or authentication (1:1) functions for desktop or web applications with the help of a biometric scanner and a biometric matching engine. When using biometric middleware, it’s just a matter of hours to deploy a full-fledged biometric system. Some middleware solutions, like Hybrid Biometric Platform by M2SYS, even comes with support for multiple biometric modalities like the fingerprint, finger vein, iris, and facial recognition. Market Scenario Research conducted by Fact.MR disclosed their report on the market size of biometric middlewa...

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