US-based financial services technology firm Fiserv has revealed a palm-vein authentication device designed to help banks and credit unions identify customers.The device integrates Fujitsu PalmSecure biometric technology with Fiserv's DNA account processing platform.The firm noted that the solution has already been deployed by US-based Gesa Credit Union in a pilot, and that it is reducing authentication time significantly.”We benchmarked our traditional process and found that it takes about 15 seconds for a member to authenticate themselves at a teller station. Palm vein authentication takes about one second, so we've shaved 14 seconds off each transaction,” says Karl Guynn, Director of Products, Gesa Credit Union. “Palm vein authentication speeds up the transaction so members can be in and out of the branch and on with their lives. It's more secure and our members and our tellers love it.”Gesa has piloted it in three of its branches and now plans to offer the service at five additional branches.”The use of biometric technology such as palm scans for authentication can provide added security beyond conventional systems,” said Chris Van Der Stad, senior vice president and chief technology officer, Open Solutions, Fiserv. “The Verifast: Palm Authentication technology eliminates the need for consumers to scramble for their IDs or exchange personal information. It delivers a combination of convenience and security that complements how people live today.”
Recent Video
- New non-profit trade association of HAND will standardise global talent ID
- No cards, no phones: J.P. Morgan’s biometric revolution in payments
- Anthony Vidiano on building the future of access management
- Charisma Check wins 2025 Start-Up Pitching Competition, advancing identity verification and background checks for dating app users
- How to protect one billion Amazon customers: Lessons from continuous risk assessments
