ID-POD – Banking
ID-POD ™ can be used to support a variety of banking scenarios:
ATMs
Banks are making large IT investments especially in the field of security to mitigate loss due to fraud, increase customer retention and create a competitive edge. Palm vein authentication at ATMs is being used in over 40 banks in Japan, while 1.6 million smart cards contain palm vein scan data.
An enrolled customer inserts his smart card into the ATM station. The customer is asked to select the required activity. In the case of a withdrawal or money transfer, he is asked to place his hand over the ID-POD ™ reader for palm vein authentication and is then asked to key in his PIN. ID-POD ™ compares the customer’s palm vein pattern with that stored on the smart card in order to ensure the highest level of authentication. Once verification is complete, the customer may perform the transaction. Depending on the bank’s policy, a threshold can be set above which the customer must use palm vein authentication. Below the threshold PIN is sufficient.
Walk-in customers
Enrolled customers can perform various types of transactions (e.g., payments, money transfers, etc.) at a service terminal within the branch without requiring the presence of a bank employee. This eliminates waiting in line and alleviates pressure on staff. Palm vein authentication is performed as part of the identity verification process (together with PIN and smart card) using a ID-POD ™ device attached to the service terminal.
Combination of smart card plus palm vein authentication provides the highest level of security to both customers and financial institutions. Even if the card or ID is stolen, the account remains secure since authentication also requires biometric identification.
Internal branch security
Banks and other financial organizations require methods to enable them to control physical access to sensitive areas within their offices. Using ID-POD ™, banks can be sure that only authorized employees enter the vault, archives and other restricted areas. In addition, ID-POD ™ lets banks track who entered a given area and the length of time they were there. ID-POD ™ also prevents situations where a manager passes his card to an employee, as well as situations where a card is stolen or duplicated in order to access a restricted area.
Remote banking
Large business customers wishing to execute common and frequent transactions, such as payroll and purchasing, often prefer to do their banking via remote access rather than having to come into the branch several times a month. ID-POD ™ can be easily integrated into the authentication workflow for the remote banking application. When a business customer requests to log into the system, palm vein authentication is performed as part of the identity verification process (together with smart card) using a ID-POD ™ device attached to the user’s PC via USB cable.