Here is something I found and I don't know if was mentioned.
Date: 04/13 08:24 EST
IBG Conducts Biometric Study on Behalf of Chase, Citibank and Visa
NEW YORK (April 13) BUSINESS WIRE -April 13, 1999--International
Biometric Group announced today that it has completed its evaluation of
finger scan and face recognition biometrics conducted on behalf of
Chase Manhattan Bank (NYSE:CMB), Citibank (NYSE:C) and Visa
International.
The results of this landmark test will help determine which biometric
technologies will be used for ATM withdrawals, credit card purchases
and Internet transactions. IBG's Biometric Study also reveals to what
extent age, sex, ethnicity and occupation affect the performance of
biometric technologies.
According to Samir Nanavati, a partner with IBG, "PINs and passwords
have been rendered obsolete in the age of the Internet. IBG's Biometric
Study provides the foundation upon which financial organizations will
build customer identification systems as we enter the new millennium."
IBG has made the test results available to select customers.
"The IBG Biometric Study enables Visa to learn and independently
validate which vendors have technologies best suited to customer
applications for our Members. In addition, the test gives us crucial
insight into which technologies our Members and their customers feel
comfortable using," said Chetan Patwardhan, Director of Technology
Research at Visa International.
Industry insiders recognize the importance of the study. "This effort
will increase our knowledge not only of specific devices, but of
electronic finger imaging in general, particularly among
sub-populations thought to be hard to fingerprint", stated Dr. Jim
Wayman, Director of Biometrics at San Jose State University.
Biometrics, including finger scan, face geometry, iris recognition,
signature verification, speaker verification and hand geometry, are
technologies that verify one's identity based on personal traits. In
addition to increasing the security of financial transactions,
organizations are looking to increase customer convenience. Biometrics
allow for faster processing at teller windows, increased withdrawal
limits at ATMs, and a reduced chance that accounts will be fraudulently
accessed.
Systems from the following vendors were evaluated: Sony (NYSE:SNE),
Identix (AMEX:IDX), ST Microelectronics (NYSE:STM), Digital Persona,
Mytec (Toronto: MYT), Veridicom, a spinoff of Lucent Technologies
(NYSE:LU), Identicator, American Biometric Company, Miros and
Visionics.
International Biometric Group (http://www.biometricgroup.com) is the
leading worldwide biometric consulting and integration firm. IBG
operates the BiometricStore, a showroom in Manhattan that allows for
the hands-on comparison of three dozen biometric systems.
For more information, contact Raj Nanavati: 212-809-9491.
-0- jb/ny*
CONTACT: International Biometric Group LLC, New York
Samir Nanavati, Partner, 212/809-9491
Fax: 212/809-6197
E-mail: samir@biometricgroup.com
Internet: www.biometricgroup.com
RON |
