Tokyo -- IYBank hopes to adopt automated teller machines compatible with both of the two major biometric identification methods, those using the veins of the fingers or the palms, IYBank President Takashi Anzai said Monday.
The banking industry is divided into two groups that favor either the finger or palm method. Bank of Tokyo-Mitsubishi ATMs are using palm veins as a customer identification key, while Mizuho Bank and Sumitomo Mitsui Banking Corp. are planning to introduce the finger-based method.
IYBank has a research and development project to realize ATMs compatible with both methods, Anzai said in a speech to a conference held in Tokyo.
IYBank will consider whether and when to introduce such ATMs while looking at the progress of planned legislation that would require banks to compensate depositors if they lose money via stolen or forged cash cards.
If banks have to always cover 100 pct of such losses, no depositors will need biometric ATMs, he said.
As the industry is divided over biometric identification methods, the stance of IYBank has been attracting attention. The bank operates about 10,000 ATMs nationwide at group retailers run by Ito-Yokado Co. and Seven-Eleven Japan Co.