Barclays brings biometrics goes from voice to touch with VeinID fingerprint scanners
The financial technology sector is growing rapidly, and amongst the frontrunners of innovative startups is Barclays – proving that they’re still a hub of innovation inside payments. Not content with rolling out biometric voice recognition software for high-street customers, Barclays has unveiled a new level of corporate security with VeinID.
Developed by Hitachi Europe, the Barclays Biometric Reader uses Finger Vein Authentication Technology to read and verify unique vein patters in customers fingers. This means that corporate customers can simply scan their finger and have their vein ID read by the reader to authorise access to online accounts and payments without the need for a PIN or authorisation codes.
Hitachi’s VeinID system is already in use in Japan, North America and Europe for password replacement, single sign-on, and for use at ATMs. However, the combination of vein biometrics and highly-secure digital signature technology – found in Barclays’ biometric reader – is the first in the world for the financial sector.
Barclays hope this will help reduce identity fraud often experienced by UK businesses.
It’s interesting to see if Quixter’s technology will be able to spread as widely as VeinID, especially as it actually uses palm vein verification technology over finger vein verification.