New Technologies in Banking

It is important to note that the main applications of biometrics are utilized for preventing fraud and ensuring security. The use of biometrics has increased tremendously but so has social, ethical, privacy, practical and even political issues associated with it (Duquenoy, Jones & Blundell, 2008). Following is the detail regarding its ethical and privacy issue implications.

The thing with biometrics is that it works great only if the verifier can verify two things: Firstly, that the biometric to be used has come from the intended person at the time of verification, and Secondly, which the biometric should match with the master biometric entry in the file database. If the system can't do that, it can't work. Biometrics are good in uniquely identifying the people, butat the same time they are not secrets and cannot be trusted [1].

Biometrics are important to not only information systems, but to information security as a subject. Today, most information is kept secure via ID cards or secret information, such as a PIN, password, pattern, etc., the downside to this type of security is the lack of a failsafe (Ashok, Shivashankar and Mudiraj)! What would happen if an ID card was lost? Or a PIN, password or pattern was leaked to individuals who were not on a “need to know” basis”? This is where the importance of biometrics comes into play.

Identification processes are significantly more complex and error prone than verification processes. Biometrics technologies are indicators of authentication assurance with results based on a predetermined threshold with measurable False Accept Rates and False Reject Rates.

Technology is always improving, and new software is always being developed. One of these new technologies that have been developed is biometrics. Biometrics is the process by which a person's unique physical and other traits are detected and recorded by an electronic device or system as means of confirming identity (Dictionary.com, 2013). In recent years, the FBI has employed new biometrics technology.

The solutions presented in the report have an edge over different models. The reason is that, once an attacker obtains access to a unique finger impression template, he can claim to be a validated client. Yet,

Ultimately all experts agreed that biometrics are superior to older methods of online identification. But experts question if this new technology is enhancing the customers experience. Experts debate these new features because they are more reliable than passwords but when hacked can give out more personal information. The social network for those in the IT industry Spiceworks says that 90% of companies will use biometrics by 2020.Companies like Microsoft and Facebook are already using this technology because it is a cheaper alternative than passwords. Passwords can get hacked, but are also easy to change, biometrics can be hacked, but users cannot change biometrics. Not only do hackers access your fingerprints, but they also have all of your online secured personal information. This advancement has proved to be beneficial for companies, but consumers are wary to give up this information. This is due to the fact the companies are selling this information to third parties without consent from the users. The European Union is addressing citizens' concerns mandating that companies give consent to customers. Hopefully other nations like the U.S. will adopt these laws to protect citizens. The article draws that biometrics can help companies get to really know their customers but customers no longer trust them because they have gone too

There many types of biometrics that are known to have success within organizations and government agencies. Some these types include smart card, fingerprint recognition, retinal/iris scanner, hand geometry, and facial recognition. All these types are known to be the most common types but one most also know that just like any other technology, each have their advantages and disadvantages. For example, smart card and fingerprint recognition are the most widely used due to them being cost effective and user friendly. The retinal/iris scanner are very secure but can be expensive to some. Although these technologies can be combined such as the smart card and fingerprint recognition, such as by having an individual insert has smart card into the reader which then will require that individual to place his/her finger on a scanner for a reading. Now let’s use the technologies in a example for access control of the facility that may be best to improve security while also considering cost. First is to implement the smart card which contains an integrated circuit chip. These smart cards work like an identification card but contain a circuit chip that allows for the storing of personal information, photograph of the person and biometrics like

In order to protect users of computer systems and to secure network-based transactions, demand is increasing for improved user authentication procedures to establish the identity of an actual user and to bar access to a terminal to anyone who is unauthorized. Personal identification using biometrics, i.e., a person’s physical or behavioral characteristics has come to attract increased attention as a possible solution to this issue and one that might offer reliable systems at a reasonable cost. While traditionally this technology has been available only with such expensive, high-end systems as those used in law enforcement and other government applications, today many personal–level applications have also become

We live in a world today, in which technology moves at a very rapid pace. Many of these technological advances can be used to make our everyday lives easier and safer. One of these new technologies is Biometrics. Biometrics is the process of measuring a person’s physical properties. This would include measuring things like fingerprints, retinas, odor, vein structure on the back of the hand and many other things. Biometrics is a very important topic because it would create better security precautions for certain places that need to be secure. Biometrics will make our society safer by only allowing authorized people out of secure facilities and by keeping the unauthorized people out. Throughout the rest of this

Ever heard the saying along the lines of “everyone is unique in their own way”? When it comes to biometric, that saying is very accurate due to the fact that uniqueness the basic premise of biometrics. Biometrics is one of the most effective technologies that is used to distinguish the variances of individuals (Cantore, 2011). Biometrics focuses on the minor and major differences of individuals by using many different methods as well as features. Throughout the years, biometrics has been used to authenticate individuals’ identities. In this paper I will be explaining what biometrics is as well as describing its effectiveness, accuracy, and legality. I will also examine court cases involving

Biometric devices offer great benefits when it comes to medicine and security. The use of biometric devices in medicine, has allowed medical personnel prevent illnesses or stop ongoing ones. Many business, corporations, and even the government use biometric device to secure sensitive information from unauthorized people. Government uses biometrics to identify known criminals and protect citizens from criminals. The advantage of biometric devices are great, but just like all technology, biometric have their disadvantages. Many people feel their privacy is being violated when agency measure part of their bodies. This is raises the questions of ethics.

Introduction: Biometric authentication is the process of verifying an individual based on behavioral and physiological characteristics. Iris recognition verification is one of the most reliable personal identification methods in biometrics. In the beginning, the idea of using iris patterns for personal identification was originally proposed in 1936 by ophthalmologist Frank Burch. By the 1980 's the idea had appeared in James Bond films, but it still remained science fiction and conjecture. As biometric of human for identification purpose which cannot be stolen or lost. From the biometric system there exist different types of biometric such as thumb recognition, palm recognition, face recognition and iris recognition etc.

Improved accuracy and improved convenience are two of the biggest benefits of biometric technology for personal identification. First, unlike passwords or PIN numbers, which can be used by anyone who knows the required information, biometrics looks at a

Biometric technologies are getting better and finely tuned. The rate of false readings and errors has sharply fallen. However it still requires careful consideration and planning to implement a biometric identification system. They are most costly and complicated to implement as compared with other authentication systems. A proper evaluation of the system is important before purchasing any biometric system. A thorough risk analysis is necessary. In many cases biometrics may be overkill. Biometrics must be used if there is high level of risk involved. Customer acceptance is also important when logging on to company websites. Home users might not be ready to install biometrics on home computers for online banking.