Working with 01 Systems, the bank will be enabling transactions that don’t require a PIN or a bank card at its branches and ATMs across Qatar.
It maps the internal vein system within a finger, and – you will be pleased to know – it will only accept a living finger. It eliminates fraud because the pattern of blood vessels in fingers are unique to each individual and cannot be reproduced or forged.
The hardware comes from mofiria Corporation, a specialist biometrics manufacturer, which will be working with 01 Systems’ biometric servers to produce a sophisticated identification and authentication solution.
The bank’s CEO Joseph Abraham said: “Biometric security features are an important tool to combat financial fraud and identity theft. Enhancing the client experience without compromising customer security is a priority at Commercial Bank. Introducing finger vein scanning technology to the local market and region is not only innovative but also provides an effective way for customers to access their accounts securely without the need for a card or PIN. Commercial Bank is proud to introduce another ‘first to market’ technology to the Middle East and we are committed to a continual investment in technology as part of our digital transformation journey to provide the best and safest experience for our loyal customers.”
Ali Sharif, CEO of 01 Systems added: "We are delighted to announce our strategic cooperation with Commercial Bank and look forward to working with such a professional team. Together, we can enable the successful deployment of advanced security systems for Commercial Bank customers. Finger vein technology is already widely used in international markets and provides customers with easy and secure access to thousands of ATMs. This is an exciting opportunity to set new standards for authentication technology, and more importantly to protect the customer's identity."
Read the August 2016 issue of Business Review Middle East magazine
Photo credit: Kevin Dooley