| 17 May 2009 |
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Eye-print technology enters Jordanian financial sector
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DEAD SEA - Jordan is the first country to use eye-print technology as a tool to save time and ensure tighter security in the financial sector, a specialised provider of customer authenticationbiometric solution said on Saturday.
Called the "IrisGuardIrisGuard
iBank Suite, iris cameras", the new technology uses cameras to obtain eye-print from customers and then process transactions accordingly, IrisGuardIrisGuard Incorporated Chief Executive Officer Imad Malhas told The Jordan Times on the sidelines of the World Economic Forum at the Dead Sea.
"We are the first bank in the world to install such advanced technology into the financial services," Cairo Amman Bank General Manager Kamal Bakri said.
Current banking system authentication methods, using PIN (Personal Identification Number) codes and passwords, are no longer considered as high-level security measure. There is an urgent necessity to provide new authentication solutions into the world's banking system today, he added.
"Our customers like the new innovative identification approach, and now the preferred means of payment is through Iris Recognition, in particular at the automated teller machines (ATMs) and teller/customer service desks with speedy withdrawals, security, payment guarantee and customer service," he said, noting that the service "will officially be integrated into our systems by beginning of next month."
"In the first stages, we will have the application available at the tellers' positions and ATM booths," he remarked.
According to Malhas, six cameras have been incorporated until now into CAB's ATM machines and tellers' windows. Another 22 machines are in the pipeline
Bakri said: "A single transaction on a teller's window now takes 6-9 minutes, but with the new system the duration will be only 45 seconds."
Such a system ensures faster and up-to-standard performance and perhaps eliminates the human mistakes, he indicated.
The next step will focus on how to apply this technology on Internet banking services, he concluded.
© Jordan Times 2009
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