Biometric Technology In Banking Essay
The use of biometric technology has spread its wings everywhere around the world. From biometric attendance system at workplaces for biometric data verification in case of registration of a legal document, the technology has emerged as one of the most useful innovations of this century.
Authentication facilitated be biometric verification is becoming one of the most common procedure in public and corporate security system, including banks. Gone are the days when human couldn't even have imagined the use of such systems in the field of banking.
The use of biometric technology is becoming increasingly common in case of banks because the ultimate consumer, today, is more aware of how this service can help them have identified access to banking
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Such traits such as the structure of the iris, the fingerprints, palm vein pattern or finger vein are common to each individual and does not match with anybody else in the world.
While password systems and personal identification numbers (PIN) are not considered safe anymore and are often subjected to leakage and theft, a biometric system is regarded as a comparatively safe method of individual identification.
Therefore, it is widely considered to be more reliable than any other identification systems, including the ones commonly used today for authentication. A biometric system gives a sure shot result as to whether the person trying to access something is the same person who registered himself or herself in the first place.
The increasing number of cases of thefts and frauds at banks has increased the demand of a more secure system over the recent years. The bank officials have started to demand for a system that uses personal characteristics of an individual for authentication, rather than using some piece of information that the bank uses. Biometric technology seems to fulfil the demands of the bank officials quite
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