Use of Iris Recognition technology in the Biometric ATM

Use of Iris Recognition technology in the Biometric ATM

Iris recognition system has proven its capability in implementing reliable biometric security protocols in various high risk sectors like aviation, border patrol and defence. However, lately, due to falling prices of iris scanners it has found further application in the retail industry.

The banking and financial sector has adopted this system wholeheartedly because of its robustness and the advantages it provides in cutting costs and making processes more streamlined. The technology started out as a novelty however due exigencies in the banking sector characterised by decreasing profits it became a necessity. The use of Biometric ATM's based on iris recognition technology has gone a long way in improving customer service by providing a safe and paperless banking environment.

Iris recognition technology captures the intricate iris patterns with the help of an iris scanning device. This data is then digitalized and stored in a database for future reference along with some other parameters like name and address. Iris data is more reliable and durable because the iris is covered by a protective sheath which protects it from damaged. Due to this durability iris recognition system requires only a single enrolment. Other technologies are subjected to wear and tear due to the nature of the work environment which requires repeated enrolment.

Iris based biometric ATM's are more secure than conventional pin based ATM's because it requires biometric verification which cannot be stolen, copied or faked. Pin based security systems can be compromised leading to losses for the consumer as well as the bank. Also, the customers find it very tedious to remember passwords and pin numbers; moreover, the task of requesting for new set of passwords is itself fraught with endless communication to and from the customer and the bank leading to poor customer experience.

The customers have taken to this technology like duck to water. A customer survey carried out by a leading bank in the United States found that 98 percent of the bank's customer found the new technology easy to use describing it in glowing terms such as " great, cool, impressive, fast and user friendly".

Under this initiative the bank had installed iris based ATM's inside Kroger Supermarket stores in Houston, Dallas and Fort Worth. The system used iris scanners and image processing technology to capture and then compare with the data available on file for identification purposes. The survey revealed that most of the bank's new customers found the new technology the prime reason for switching allegiance to the bank. It also reported how the customers wanted to see more biometric ATM's across the town to better the retail experience and give it an edge over other banks in the industry.

POST COMMENT

Tie Dye Techniques - 5 Folding Techniques to Make Patterns Technology News India Enjoying Freshwater Technology To Make Your Life Easier Laser equipped technology applied to varied substrates for edge solutions Web Structure - A Jitterbug Technique A Secret Technique that Entrepreneurs Can Use to Almost Guarantee Success! Best Teeth Whitening Techniques Different Strapping Techniques Techniques in Picking Lottery Winning Numbers Power Adapter Technology Laser surgery in the latest technologies The Transformative Power of NLP Hypnosis Techniques Deer Scouting Techniques - Scouting & Deer Hunting Throughout the Ages & Lands