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Biometrics is gaining more and more popularity in the financial services industry worldwide. In fact, the biometrics market is expected to reach a value of $30 billion by 2021. The technology is claimed to be the most convenient method as users don’t have to remember the numbers, codes or passwords.
Seeking to leverage the technology, a range of banks have turned to testing biometrics on limited audiences/particular markets. It may not take long till the industry makes biometric authentication a mainstream and ditches passwords once and forever.
Although there are some mainstream methods like fingerprint, new more exciting development are underway. Vein recognition technology is one of those to pay a particular attention to along with iris, retinal, behavioral and other emerging methods. Let’s look at some of the companies putting vein recognition technology on the map:
BioGuard offers palm vein authentication technology along with other solutions. The system uses an infrared beam to penetrate the users hand as it is held over the sensor; the veins within the palm of the user are returned as black lines. The company has three products for providing vein recognition services: BioGate, Kee-Pod and BioID Server.
IdentyTech Solutions offers PalmSecure Sensor, a biometric authentication device that promises to provide the highest level of security using palm vein authentication technology. Contactless device utilizes the algorithm that creates several tens of thousands of Minutia points, encrypting each image before converting into a template allowing for unique encryption keys for specific solutions.
Hitachi’s biometric security solutions provide finger vein authentication technology that is used in logical access applications, applications for physical access through finger vein authentication systems, vein pattern applications for ATM & banking, and embedded applications.
BioSec offers BS GateKeeper physical access control system (Palm Secure vein base biometric technology) that combines vein template algorithm with speed, user convenience and highest security. The BS GateKeeper physical access control system is a modular, flexible system, which does not contain any complicated network structure. There are no limitations in the number of users, or the size of the system.
M2SYS provides a suite of products for multiple industries spanning from mobile biometrics, biometric readers on fingerprint, finger vein, voice recognition, face recognition, palm vein, iris and smart cards.
Palmsure offers a palm vein device that captures an individual’s palm image with near-infrared rays. Contactless device is promised to have high accuracy of a false rejection rate of 0.01% and a false acceptance rate of less than 0.00008%. The device can be easily integrated with any external devices and work in almost any conditions.
IDLink Systems offers iDLink Palm Vein V2 Reader with the latest PalmSecure vein scanner from Fujitsu, iDLink Palm Vein II Reader enables secure and reliable way of verifying the identity of a person for access control or time attendance.
Biometrics Tech designs, develops, integrates and maintains complex mission critical security and monitoring systems to enable enterprise realize optimum use of their infrastructure. The company’s biometric solutions incorporate fingerprint, face, iris, voice, and signature recognition. These technologies can be used separately or together in one package to meet entire authentication and identification needs.
Fujitsu provides a highly reliable biometric authentication system based on palm vein pattern recognition technology. PalmSecure is claimed to feature industry-leading authentication accuracy with extremely low false rates, and the non-intrusive and contactless reader device provides ease of use with virtually no physiological restriction for all users. Devices can be applied for physical access control, time and attendance track, user authentication for PCs or servers, government / commercial identity management systems and more.
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