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Fiserv launches palm scan technology

Fiserv has worked with Fujitsu to develop its new Verifast: Palm Authentication offering. This can be used by banks and credit unions to authenticate customers by holding their palm over an infrared sensing device, which detects a person’s unique palm vein pattern. Fiserv claims that the technology can increase the speed of authentication by more than 90%.

The solution integrates Fujitsu PalmSecure biometric technology with Fiserv’s DNA account processing platform and is currently available to clients of the latter. US-based Gesa Credit Union has piloted it in three of its branches and tracked member interactions. It now plans to offer the service at five additional branches.

“We benchmarked our traditional process and found that it takes about 15 seconds for a member to authenticate themselves at a teller station. Palm vein authentication takes about one second, so we’ve shaved 14 seconds off each transaction,” says Karl Guynn, Director of Products, Gesa Credit Union. “Palm vein authentication speeds up the transaction so members can be in and out of the branch and on with their lives. It’s more secure and our members and our tellers love it.”

By Scott Thompson

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