Professional Banker Magazine | Application of Biometrics in Indian Banking Sector

Professional Banker Magazine:

Application of Biometrics in Indian Banking Sector

Article Details

Pub. Date	:	May, 2009
Product Name	:	PROFESSIONAL BANKER
Product Type	:	TECHNOLOGY
Product Code	:	PBTE10905
Author Name	:	Dr. Priyanka Gite and Rahul Mishra
Availability	:	YES
Subject/Domain	:	Finance
Download Format	:	PDF Format
No. of Pages	:	5

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	Abstract
	The Indian banks are implementing biometrics technology because of the growing concerns over security and financial frauds. Biometrics is a method of identification and verification based on individual physical traits like fingerprints, iris, etc. The advantage of this technology is that biometric objects cannot be stolen, lost or hacked. This article discusses the concept and the working of biometrics. It also throws light on the pros and cons of this concept and the strides being made by the Indian banks on this front.

Description

`Biometrics' is a Greek word and it refers to life measurement. The websters dictionary defines biometrics as the statistical measurement and analysis of biological observations and phenomena. In simple terms, biometrics means using the body as a password. Biometric identification refers to the technique of verifying a person by a physical characteristic or personal trait.

Every individual has a distinguishing physical feature whether fingerprint or the iris (part of the eye). These are used to identify a card user instead of the widely prevalent Personal Identification Number (PIN).

Small business encyclopedia defines the term biometrics as a technique that identifies people based on their unique physical characteristics or behavioral traits.

Keywords

Professional Banker Magazine, Biometrics Technology, Personal Identification Number, PIN, Biometrics Authentication Process, Indian Banking Sector, Technology, Biometrics Database System, Fingerprint Biometrics Systems, DNA, Chemical Industries, Biometric ATM Interface Solution, BAIS, State Bank of India, ICICI Bank, Health Insurance.