Why are financial services organizations adding biometric authentication to their security platforms?
Securing online access to files, apps, and customer records are critical for financial services organizations and banking systems. Biometric authentication is emerging as a preferred solution to help reduce the risk of fraud and monitor user activity.
Trust is a top priority for customers in the financial services industry. Therefore visionary CISO’s – IT Directors are prioritizing security. BIO-key is trusted by leading financial services institutions to deliver highly accurate biometric authentication solutions designed to strengthen security and enhance workflow. In the financial sector, we do this using our NIST tested software, deployed in conjunction with PIV-Pro, a FIPS compliant fingerprint scanner. The combined solution helps our customers meet the federally mandated compliance requirements for online authentication.
In banking and bank systems, there is the challenge of securing shared workstations. A shared computer environment presents a breeding ground for system vulnerability and creates an apparent internal threat to the organization. BIO-key addresses this vulnerability by associating all online activity with the exact user – identified by their fingerprint.
Banks also attract a diverse workforce, including administrative personnel, full and part-time tellers, shift supervisors, bank managers, and banking executives. Each group has a varying commitment to the organization, therefore posing an inherent risk to security. BIO-key delivers an authentication process that reduces risk by associating all online activity with the actual individual responsible for the action. Unlike other authentication methods, your fingerprint cannot be lost, stolen, or shared.
Want to Reduce Risk by 20%
Over the Next 10 Years?
Industry projections suggest that biometric security can reduce a financial institution’s operational risk by 20 percent over the next 10 years (Rawlson King)
Click on the article below to learn more about security challenges for the financial sector.
Click on the link below to discover how banks are using BIO-key.
View Case Study
3 Levels of Biometric
Level 1: Securing Access to the Device
In banking, there is the challenge securing shared workstations. A shared computer environment presents a breeding ground for system vulnerability and creates an obvious internal threat to the organization. BIO-key addresses this vulnerability by associating all online activity with the exact user – identified by their fingerprint.Shop
Level 2: Secure Access to Windows Applications – Biometric Sign-in Integrated with Active Directory
Many organizations want more than just device sign-in capabilities and some want to add a layer of multi-factor authentication. If your organization is operating on a Windows Platform, BIO-key’s ID Director for Windows, integrates with your Active Directory to provide biometric authentication, enabling one-touch instant access to your Windows applications. Raise the bar on security, reduce the number of password resets and add the convenience of one-touch instant sign-in with ID Director for Windows.Demo
Level 3: Secure Access to your Custom Applications and Websites – Supports Other Authentication Methods
WEB-key 4.0 is a sophisticated biometric authentication engine which supports other traditional methods of authentication, such as passwords, PINs, tokens, proximity cards, and knowledge based – challenge response questions; making it an ideal option for multi-factor authentication. WEB-key offers the flexibility and interoperability to support most platforms and devices. Tested by NIST and trusted by leading financial services organizations, the Fortune 500 and the federal government, WEB-key 4.0 helps you reduce risk, secure online assets, and protect the brand.
Read “Financial Services: Security Challenges” for more information on how Biometrics can help Financial Services prevent cyberattacks.
Download our Case Study to find out how Biometrics helps The First National Bank of Long Island stay secure.