Barclays Taps Vein Biometrics in Bank Fraud Fight
Barclays is launching for corporate clients and will roll out for millions of retail clients next year as it steps up use of biometric recognition technology to combat banking . The British bank said it has teamed up with Japanese technology firm Hitachi to develop that scans a finger and identifies unique vein patterns to , instead of using or PIN. Chief executive of Barclays personal and corporate banking Ashok Vaswani said Barclays was improving technology and security, but criminals were also getting more sophisticated. According to National Fraud Authority estimates, Britain’s private companies lost from fraud in 2012 and suffered 5.4 billion pounds of that.
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