Dr Ted Dunstoneted@biometix.comCEO Biometix

Chair Technical Panel, Biometrics Institute

Going beyond traditional authentication: Biometrics for financial services

Why use biometrics for financial services?

• Improve service

• Reduce costs

• Enhance fraud detection– (External and Internal)

• Compliance with govt. regulations

• Strengthen proof of identity (POI) processes

• Better risk management

• Improved identity management

Global Use of Biometrics inFinancial Services

National Australia Bank

ICICI Bank, India

Bloomberg

Banco Bradesco Bank of America

CITI Bank

Reserve Bank - MalaysiaDeutscheBank

America

Europe

AfricaAustralia

AsiaFingeprint

Finger Vein

Voice

Hand Vein

Iris

SignatureOther

Have

(Card)

Know

(PIN/Password)

Are

(Biometric)

Security/Identity Credentialing

Technology Cost versus Accuracy

COST

AC

CU

RA

CY

Voice

Fingerprint

Vein

Iris

Face

Identity Credential Ratings

CredentialRating

0 1 2 3

Minimal Low

Moderate

High

Minimal

Low

Moderate

High

SimpleSingle-FactorEg. Password

ComplexSingle-Factor

SimpleMulti-Factor

Semi-ComplexMulti-Factor

+

Reg

istr

atio

nR

atin

g (P

OI)

INTEGRATING BIOMETRICS IN A MULTICHANNEL ENVIRONMENT

IDENTITY RESOLUTIONUNIT

REFERAL

CARD PRODUCTION

ATM

BRANCH

Voice Web /Mobile

External - Customers and Biometrics

POS

Enrolment

• Identity Management -Duplicate Check

• Confirmation on Card Pickup

Account Opening

• At branch access

• At an ATM

• Over the phone

• Point of Sale

• Over the internet

Different Channels

External - Customer Biometric Usage

IDENTITY RESOLUTIONUNIT

REFERAL

Password Reset

CARD PRODUCTIONBRANCH

Internal - Staff Biometric Usage

Data CenterLogin and Signing

Access Control

Enrolment

• Background checksNew

Employee

• Building Access

• Data-centre Access

• Surveillance

• Cash Handling

Physical

• PC Login

• Authorizations

• Password ResetLogical

Internal - Staff Biometric Usage

Biometric Challenges

BiometricsEnvironmental

Physiological

AcceptanceCost /

Benefit Risk Mitigation

Integration

Process

WHAT’S NEXTTHE FUTURE OF BIOMETRICS IN FINANCIAL SERVICES

Mobile e-Wallets

Identity Interchange

Emerging Markets

• The Biometrics Institute is independent and not-for-profit.

• It is a unique forum that brings together the whole of the biometrics industry – users, suppliers and researchers.

• The mission of the Biometrics Institute is to be an international forum for biometric users and other interested parties and to promote the responsible use of biometrics

• http://www.biometricsinstitute.org

Over 130 Organisations, including:

• ANZ Banking Group (ANZ)• National Australia Bank (NAB)• Royal Bank of Scotland (RBS)• Westpac Banking Corporation• Bank of New Zealand• Kiwibank• Spanish CECA• Bank South Pacific• Attorney-General's Department • Australia Post

Follow up

• #1 Tip: Always approach biometric projects from an identity and risk management perspective.

• Go to banking.biometix.com to obtain a free report on Biometrics and Banking.

• Become a member of the Biometrics Institute.

• Ted Dunstone - ted@biometix.com -0419990968.