Swiss Biometric Start-Up & Siemens Join Forces in Battle Against Online Banking Fraud
July 16 2008 | 0 comment(s)
As the Economist reported, a Swiss security startup company and Siemens AG joined forces to deliver a biometric fingerprint solution that adds another layer of security to online transactions:
"Banks in Europe and South Africa are testing a device that authenticates online transactions by asking customers to run their fingerprint over a reader. If the print matches a stored copy, the device, which is made by Siemens, a German firm, and AXSionics, a Swiss firm, shows a PIN code that can then confirm the transaction."AXSionics was founded just in 2003 as a spin-out of the Berne University of Applied Science. They develop a platform that aims to become a new definition of secure and convenient access to cyberspace.
Survey: Security is an Important Factor for Online Banking
According to that same article, a survey by Gartner revealed that over 50% of people consider security features as extremely important when deciding whether to go online. However, fingerprint might not be the ideal biometric technology for this market:
"Fingerprint scanners are not for the mass market, says Avivah Litan, an analyst at Gartner, who does think that voice biometrics will be in widespread use in America within three years."
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