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Biometric Authentication in Banking

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ICT Enabled Innovation ~ Finger Vein Authentication Technology in Banking ~
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Page 1: Biometric Authentication in Banking

ICT Enabled Innovation~ Finger Vein Authentication Technology in Banking ~

Page 2: Biometric Authentication in Banking

Agenda

Unexpected and new knowledge

05SOURCE OF INNOVATION

Breakthrough Product Innovation

04TYPE OF INNOVATION

Near-infrared light (LED), CCD camera, pattern compression and digitization, pattern-matching algorithm

02TECHNOLOGIES USED

Finger Vein Authentication Technology in Banking & Finance sector addressing identity thefts

01CONTEXT OF INNOVATION

High accuracy, speed, secure, small, non-traceable, user-friendly

03BUSINESS/SOCIAL VALUE

06RESULTS OF INNOVATION

Card less transaction, increased customer confidence, reduced identity theft

Page 3: Biometric Authentication in Banking

Context of the innovation

Case organisation: BPH

bank, Poland

Implementation of

finger vein

authentication

technology for personal

identification in banking

& finance sector

Page 4: Biometric Authentication in Banking

Background

Cybercrime, especially

financial crime on the rise

Financial crime frequently

committed over Internet

targeted against financial

institutions

Identity fraud is the top

category of financial crime

Majority identity fraud are

bank card and financial

account related

Page 5: Biometric Authentication in Banking

Background

Implications of bank card identity

fraud are:

Financial loss for individual and

financial institutions

Diminished trust & customer

confidence in financial institutions

Fraud victims deterrent to

consume digital banking services

Page 6: Biometric Authentication in Banking

Technologies Used

Near infrared light

generated by light

emitting diodes (LED)

Charge coupled

device (CCD)

camera

Image processing

of finger vein

pattern from

camera

Pattern

compression and

digitisation

Pattern-matching

algorithm

Page 7: Biometric Authentication in Banking

How Finger Vein Technology Works

Page 8: Biometric Authentication in Banking

Business value of the innovation

High accuracy authentication

Fast authentication speed

Highly secure

Small

Non traceable

User-friendly

Page 9: Biometric Authentication in Banking

Comparative Analysis with other Biometrics

Page 10: Biometric Authentication in Banking

Breakthrough Product Innovation

Type of innovation

Page 11: Biometric Authentication in Banking

Unexpected

New Knowledge

Source of innovation

Page 12: Biometric Authentication in Banking

Results of the innovation

Card less transaction (self-service ATMs, branch and online

transaction)

No necessity to change password or PIN let alone remember

them

Drastically reduced identity thefts

Increased customer confidence in banking and finance

institution and consumption of digital banking services

Leading the way for other financial institutions to adopt

technology

Page 13: Biometric Authentication in Banking

Bank BPH has 1,800 units

Poland

Barclays Bank, Corporate Customers

UK

Is Bank has 3,400 units implemented

Turkey

STAR Tasmania has implemented in 21 office locations

Australia

80% ATMs and Bank Branches

Japan

Worldwide Implementation

Page 14: Biometric Authentication in Banking

Challenges for adoption

Cost (hardware & integration)

Consumer acceptance (privacy and safety concerns, and hygiene

issues)

Consumer confidence in the technology

Page 15: Biometric Authentication in Banking

THANK YOU

Page 16: Biometric Authentication in Banking

Reference List Al Pascual, K. M., Sarah Miller. (2016). 2016 Identity Fraud: Fraud Hits an

Inflection Point. Identity Fraud Study. Retrieved from

https://www.javelinstrategy.com/printpdf/23431

Edgington, B. (2007). Your quest for the ideal biometric: is it in vain? Retrieved

from http://www.hitachi.eu/veinid/documents/veinidwhitepaper.pdf

Harrell, E. (2015, Sep-2015). Victims of Identity Theft, 2014. Retrieved from

http://www.bjs.gov/content/pub/pdf/vit14.pdf

Hitachi-Omron. (2016). Taiwan's CTBC Bank Adopts Finger Vein Authentication

Solution for ATMs. On. Retrieved from: http://www.hitachi-omron-

ts.com/news/201607-001.html

Hitachi. (2012). BANK BPH. Hitachi Digital Security Case Studies. Retrieved from

http://digitalsecurity.hitachi.eu/case-studies/bank-bph/

Page 17: Biometric Authentication in Banking

Reference List Hitachi (2014). Finger Vein Authentication Technology for Smooth and Accurate

Walkthrough-style Personal Verification. On: Hitachi America. Retrieved from:

http://www.hitachi.com/New/cnews/month/2014/12/141208a.pdf

Hitachi. (2014). Planet Cash: Europe’s first biometric ATM shared network launched

in Poland. Retrieved from

http://www.hitachi.eu/sites/default/files/fields/document/press-

release/press_release_hitachi_itc_14_may_2014_final_r.pdf

Hitachi. (2015). STAR Tasmania. Retrieved from Vein ID: Hitachi in Oceania website:

http://www.hitachi.com.au/documents/casestudy/cs-startas.pdf

Hitachi. (2006). Finger Vein Authentication: White Paper. Retrieved from

http://www.hitachi-

america.us/supportingdocs/services/smart_solutions/Finger_Vein_Authentication_

White_Paper.pdf

Page 18: Biometric Authentication in Banking

Reference List Hitachi, Ltd. (2015) VeinID: Finger Vein Authentication Technology. Retrieved

from http://www.hitachi.eu/veinid/documents/hitachi_vein_16pp.v6.pdf

Hitachi, E. (2012) BANK BPH. Hitachi Digital Security Case Studies. Retrieved

from http://digitalsecurity.hitachi.eu/case-studies/bank-bph/

Hitachi, E. (2012) Finger Vein Technology with Bank BPH. Hitachi Digital

Security Case Studies. Retrieved from http://www.hitachi.eu/en/case-

studies/finger-vein-technology-bank-bph-poland

Institute, B. (2012). Biometrics Technology and Standards Overview. Retrieved

from http://www.biometrics.gov/documents/biotechstandard.pdf

https://youtu.be/OKlwlpT5EUY

Page 19: Biometric Authentication in Banking

Appendix

USB Finger Vein Reader

ATM Finger Vein Reader

Physical Access Reader

Embedded Reader


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