CHENNAI: Polaris Software Lab Ltd is entering biometrics authentication in banking software. Biometrics authentication is based on optical fingerprint sensing technology, and Polaris will use it in its identity and access management product called Intellect ARMOR. The new solutions is being showcased at the India Banking Summit in Mumbai on Tuesday and Wednesday, says a Polaris press release.
Biometrics is essentially identification of a user by measuring their unique human characteristics like fingerprint and iris patterns. In banking, biometrics facilitates a secure environment for transactions, while retaining ease of use of systems. The Polaris solution will rely on technology that will identify valid users based on their pre-recorded fingerprints, much akin to signatures or passwords that are currently used in most systems, the release said.
Mr Koen Van Den Brande, President, Product Group, Polaris Software Lab, in the release said, banking in India is yet to fully exploit this robust and well-tested technology. The main advantage of the biometric data is that it cannot be stolen or lost, unlike other credentials such as passwords that are assigned to people.