The International Organisation for Standardisation has promoted a new standard for biometric banking technologies
GENEVA – The International Organisation for Standardisation (ISO) has released a new standard for the implementation and management of security for using biometric authentication technology.
The new standard – ISO 19092 – outlines a security template for the integration of biometric signatures being used as personal identification by the financial services industry, including iris scans, fingerprints, speaker verification, and facial scans.
“ISO 19092 offers a valuable international consensus-based tool to the financial industry that will encourage the secure implementation of biometrics as an authentication method within this sector,” said Mark Lundin, chair of the ISO’s subcommittee that produced the standard.
“This standard is one step ahead, paving the way for the next generation of safer and more reliable financial transactions, increasingly important in today’s electronic era,” said Lundin.
Banks have been hesitant to adopt biometric technologies, partly due to doubts over acceptable security standards and consumer confidence.
More on Operational Risk
Heavy regulatory costs and fragile systems will be problems in 2015
Avoiding model failure will be a key issue in 2015
Tax evasion, corporate ownership and sanctions will all be concerns
Operational risk managers highlight repeat failures at firms
Sign up for Risk.net email alerts
Sponsored webinar: IBM
Watch highlights of this year's London conference
Operational risk and the challenges of defining and dealing with conduct risk
Watch discussions and speakers from our North America conference
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.