Financial and Transactional Biometrics – the ID Theft Solution You Can Bank On!
Financial and transactional security, and identity theft protection are more of an issue today than ever before! Have you ever panicked because you lost your wallet, with all of your ATM and credit cards in it? Do you fear to bank via internet banking because you’re worried that your information will be stolen, along with your money?
Do you look over your shoulder three times before entering your PIN at the ATM machine to make absolutely sure no one can see which numbers you’re pressing? Does online shopping worry you because you’re scared someone will get your credit card number? Would you feel much safer if there was a more fool proof way of conducting financial transactions that was more secure than 4 numbers?
Let’s say you’re standing at the ATM, and enter not only your PIN, but also a thumb print or voice scan before you get money. What if, when you go into the bank, they ask you not only for a piece of identification but also an image of your iris? What if you need to press your thumb to a pad on a USB key to complete an online purchase? What if you had to be identified with absolute accuracy by your individual and unique physical characteristics before completing one of these otherwise vulnerable financial transactions? That would be far more secure than any other system in use today.
Now, that technology is in use and being developed more and more each day. It uses what’s called biometrics to ensure that you are who you say you are. Biometric technology uses your unique physical characteristics, such as your iris, your hand print, your voice, your finger print, even your veins, to make sure that you are you.
Biometrics technology can be integrated with banks, ATM machines, into USB keys that can be hooked into computers, at retail locations to be used with credit cards and ATM cards, and anywhere you may make a financial transaction. It will act on its own or in conjunction with your PIN to securely identify you as the owner of the card and the person who has access to the money being exchanged.
Identity theft is a huge and growing problem in this world of electronic money. So many of our financial transactions now have no physical cash involved. It’s all done via computers. This is convenient, but opens up a whole new world to anyone who has the skills and will to steal.
Not only can your "cash" be stolen, they can steal your credit cards, bank account info, access to your line of credit, credit rating – the list is virtually endless. They cannot, however, steal your iris or your finger print. If, when you’re conducting a financial transaction of some kind, you have to be identified physically through the use of biometric technology before the transfer is completed, it becomes impossible for anyone else to intercept the money, or your financial information. If you have to prove who you are before making a credit card purchase, it doesn’t matter if someone else has your card number; they won’t have your physical identifiers and the transaction won’t be completed.
Biometric technology protects both sides during a financial transaction. When buying liquor, a retailer can use biometrics to find out for sure if a customer is of legal drinking age. Someone selling products restricted in some way are able to tell if they are selling to someone who is permitted to buy them.
Biometric technology is reducing fraud, making fraud prevention easier, and decreasing the risk that your identity will be stolen astronomically. It’s making financial transactions more secure safer for both businesses and consumers. Even in these times of economic uncertainty, companies are realizing the benefits of investing the money necessary to implement biometric technology. The money saved by doing so far outweighs the initial outlay, and the peace of mind is priceless.
These financial and transactional biometrics suppliers will show you how to protect your money and assets, whether for a bank, corporation or right in your own home: