SOURCE: Fraunhofer-Institut für Graphische Datenverarbeitung IGD
BERLIN, GERMANY and DARMSTADT, GERMANY--(Marketwired - Apr 15, 2014) - Nowadays, banking is done online. Transactions are executed from anywhere in the world via computers, tablets or smartphones. Especially in the mobile area, any banking business should be well secured and personalized. Previous procedures such as certain account data, PIN and bank cards involve risks. Should they fall into the hands of unauthorized third parties, the accounts are quickly emptied. There is a lack of options for a direct identity link in banking.
Biometrics offers the solution. This is how it works: Machines recognize a person by means of his or her physical features. This might be fingerprints, hand-vein patterns or iris structures -- but also physiological characteristics, such as signature or voice. These biometric features are very individual and allow for a reliable, person-specific identification. "Especially in banking, the identity link is very important to ensure the legitimacy of banking transactions," explains Alexander Nouak, Chairman of the "European Association for Biometrics" and head of the "Identification and Biometrics" Competence Center at Fraunhofer IGD.
In the recent past, the approach of using biometrics in banking has experienced a new boost. "Since some smartphones have even been able to recognize their users owing to biometrics, we have seen an increasing interest in using similar procedures," explains Waldemar Grudzien, Director of the "Retail Banking, Banking Technology" business unit in the Association of German Banks.
Suitable options are hand-vein and fingerprint scanners or signature recognition, for instance. "In the process, the security of the biometric data plays a decisive role," stresses Nouak.
The participants of the workshop "Biometrics in Banking" will discuss biometric systems to personalize banking transactions at the Association of German Banks in Berlin on 21 May 2014. International companies will present their current procedures, and biometrics researchers will discuss future applications with the workshop participants.
Fraunhofer IGD is the world's leading institute for applied research in visual computing. Visual computing is image- and model-based information technology and includes computer graphics, computer vision, as well as virtual and augmented reality.
In simple terms, the Fraunhofer researchers in Darmstadt, Rostock, Graz and Singapore are turning image into information and extracting information from images. In corporation with its partners, technical solutions and market-relevant products are created.
Prototypes and integrated solutions are developed in accordance with customized requirements. In doing so, Fraunhofer IGD places users at the forefront, providing them with technical solutions to facilitate computer work and make it more efficient.
Owing to its numerous innovations, Fraunhofer IGD raises man-machine interaction to a new level. Man is able to work in a more result-oriented and effective way by means of the computer and visual-computing developments. Fraunhofer IGD has more than 200 employees. The budget amounts over 17 million Euro.