
Forget iris identification, think financial behavioural analysis...
By Pia Heikkila
Published: 24 October 2001 15:05 GMT
Biometrics has traditionally focussed on identifying individuals through iris or fingerprint identification, but this technique could be fundamentally flawed.
Instead, the solution to securing financial transactions, according to security gurus is through behavioural biometrics - a technology that analyses and learns an individual's spending patterns and reports any discrepancies to the account holder's bank.
Martin Hewgill, fraud and risk specialist at card payment technology company ACI, said: "Body biometrics such as fingerprint and iris scans have too great false rejection rate to be successfully deployed as a reliable form of identification.
"However, behavioural biometrics lets banks and credit card companies to alert the end user when the card is being compromised rather than user having to track down statements from months back."
Some banks are already using basic types of risk analysis behind the scenes and Hewgill predicted this type of technology will become more widespread.
"Banks can build a profile of users the minute they sign up for an account. They can calculate the possibilities of a risk behaviour of each customer." he added.
Behavioural biometrics technology uses risk analysis software, which tracks down any unusual patterns in the user's bank account.
Events that can trigger a warning include the transfer of large sums of money between accounts or the purchase of expensive goods through retail outlets.
We regret that this client is not prepared to sponsor work permit or work permit transfer applications. Credit Risk Analyst - SAS and ...
Experience and knowledge of the Credit Card industry. CUSTOMER IMPACT STATEMENT The Technology Division has a Contract role for a Senior Business ...
Identification and quantification of project risks and mitigating actions of project management, encourage knowledge transfer and develop project ...
Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.
Is Your Enterprise Architected for Tomorrow's Growth?
Improving IT service delivery through an integrated approach to software asset management...
TechRepublic Resource Guide: Software as a Service (SaaS) for Small and Midsize Businesses...
Download a Free Trial of SmartDraw: Learn why SmartDraw is the ideal alternative...
Stories from the web...
Copyright © 2008 CBS Interactive Limited. All rights reserved. Top of page
Clive Longbottom Windows 7: Not perfect - but ready for prime time Microsoft's latest OS fixes most of Vista's ills - but still has challenges ahead
Stephen Kleynhans Mind the details with Windows 7 Just because it might work better than Vista, it doesn't mean you can be sloppy