AFIS Technology to ensure Banking Security

Securing data and transactional information is a top concern for any financial institution.

Organizations throughout the finance sector increasingly recognize the value of biometric technology to protect both themselves and their customers against the far-reaching consequences of a breach in security.

The Banking sector would require the implementation of its own Automated Fingerprint Identification System (AFIS) solution. Without biometric verification against the PR (population register), this solution would not allow the bank to establish a client's proper identity, but it will allow the bank to find out if a particular client has been registered before, possibly under a different name, allowing instant detection if this person attempts to open another bank account.

According to the compliance with FICA and certainly also for any bank's own forensic purposes, the ideal usage scenario for opening a bank account by means of fingerprints would thus involve the following procedures:

1. An initial one-to-many (identification) search against the population register to establish true identity.
2. An initial one-to-many (identification) search against the bank's own AFIS to establish if an individual has been enrolled before under the same or a different name.
3. Enrollment of the client's fingerprints and demographic information in the bank's AFIS.

Once a new client has been enrolled into the bank's AFIS, the bank will be able to perform a number of transactions using registered client’s fingerprint as accurate proof of identity.

AFIS Technology can be used in the central bank for the verification of the client's identity for money transfers, withdrawals and the closing of accounts. This will involve one-to-one verification of the client's fingerprint against a claimed identity, which would be connected to a specific bank account from where the money transfer would take place. The claimed identity could be in the form of a name, ID, bank account number or other unique references. The bank's AFIS will perform a comparison between the presented fingerprint and the one previously stored in the database for that particular individual or another designated individual linked to that particular account. Only if the identity verification is positive, the money transfer will be allowed to take place.

The same method is also applicable in both money withdrawals and closing of accounts.

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