As data breaches, ransomware, andother cybercrimes heighten concerns about the security of doingbusiness on the Internet, some banks are rolling out biometricmethods of authentication, methods that rely on some uniquephysical characteristic of the customer, like a fingerprint.

Wells Fargo customers can now use a scan of the veins in theireye to log onto the mobile version of the bank's CommercialElectronic Office portal, CEO Mobile. And Barclays is about tolaunch a device that uses finger vein technology to authenticatecustomers signing into its treasury portal on a laptop ordesktop.

“We do think this is the way forward,” said Shameet Shah, headof digital client security for corporate banking at Barclays.“Within our space, security is paramount. You're protectingclients' accounts that have millions of dollars or pounds.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Susan Kelly

Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.