NORTH CANTON, Ohio, Sept. 6 /PRNewswire-FirstCall/ -- A new biometric security solution from Diebold, Incorporated increases consumer and financial institution protection against identity theft and fraud byverifying account holders' identities by their unique fingerprint profile.
Diebold identiCenter(TM), Powered by US Biometrics, is an integratedsystem for identity verification and branch traffic management built around proven fingerprint-reading hardware and software. It's designed to quickly,accurately and securely identify consumers who enter a financial institutionand increase efficiencies within the branch.
Dennis M. Moriarty, senior vice president of Diebold Global Security, said identiCenter is an example of how Diebold applies high-tech solutions to meetthe security needs of today's financial institution.
"identiCenter is part of Diebold's vision of the 'branch of the future,'"Moriarty said. "Diebold is working closely with financial institutions to transform their branch operations to meet the needs of tomorrow's retail banking consumer by streamlining operations, personalizing customer service and enabling faster, more secure transactions. identiCenter is a significant part of that effort."
Addressing Identity Fraud
identiCenter provides added protection for financial institutions and consumers against identity theft during branch-based financial transactions.The Federal Trade Commission reported that 10 million Americans were victimsof identity theft in 2002, the most updated numbers available, with a total cost impact of
In addition, the fraudulent use of victims' personal information to obtain goods and services cost businesses and financial institutions
At the same time, industry research shows that more than half of American consumers say the branch is their preferred mode of interaction with their financial institution. Further, according to Accenture, 42 percent of consumers visit their branch at least once per week and 86 percent visit at least once per month.
"In a world where PINs, bank cards, social security and account numberstoo often fall into the wrong hands, identiCenter can reduce fraudulent transactions, minimize losses from fraud and increase consumer confidence by verifying consumers' identities using their own unique biometric information," said Brad Stephenson , vice president of Diebold's Physical Security Group.
Using Fingerprints to Verify Identity in the Branch
At its basic level, identiCenter links an individual's identity and account information to his or her unique fingerprint profile. Upon initiatinga transaction at the teller station, enrolled consumers place their finger onan optical-scan fingerprint reader to verify their identity. Once verified,their account information automatically appears on the teller's screen.
Participating consumers must first enroll by having three fingerprints scanned. Fingerprint images are then converted to algorithmic values based onthe individual's unique minutiae point vectors, which are then stored in anencrypted, compressed database. To protect the account holder's sensitive information, the original fingerprint images are deleted from the hostfinancial institution's records, leaving algorithmic values that cannot be converted back into fingerprints.
Upgrades Add Personalized, Streamlined Service to Branch Operations