Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

IrisGuard is transforming banking transactions

Monday, April 14, 2008

Cairo Amman Bank has awarded a contract to IrisGuard Inc., to provide an iris biometric identification management system for Cairo Amman Bank’s IT platform. The new IrisGuard iBank Suite will be used to authenticate banking transactions for all the bank’s customers.

Cairo Amman Bank is the first bank in Jordan to deploy IrisGuard iBank Suite iris cameras at all branches in Jordan and Palestine. All Teller and Customer Services desks will be fully equipped with the IrisGuard IG-AD100 iris cameras. Additionally all 190 ATM’s units deployed at Cairo Amman Bank branches throughout Jordan will be equipped with the latest Dual Eye IG-AD100 Iris Cameras. [end] 

HSBC announced that it will begin the conversion to contactless technology this month, replacing all customer banking debit cards, according to ThinkMoney.com.

The bank will start to roll out the new contactless cards to existing customers whose debit cards are due to expire this month and then continue the process as cards expire. Customers who don’t want a contactless card can opt out by contacting their bank before their current card expires.

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The German Banking Industry Committee has partnered with Infineon Technologies to launch one of Europe’s biggest contactless payment trials in the metropolitan area of Hanover, Braunschweig and Wolfsburg.

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South Africa’s First National Bank (FNB) has added a new feature to its mobile app that enables users to make peer-to-peer payments via GPS technology.

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CSC has partnered with identity authentication technology and services provider Daon to produce a biometric multifactor authentication service for the banking industry. The product, called ConfidentID Mobile, provides in and out-of-band identity authentication for transactions in multiple channels, including online and mobile.

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Blaze Mobile has been awarded a new patent for mobile banking and payment transactions, covering any transactions that comprise bill payment, peer-to-peer (P2P) funds transfer and funds transfer between bank accounts and credit cards.

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Australia is moving towards a cashless society, with the latest trends indicating a rise in the number contactless payments, according to the Australian Broadcasting Corporation.

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