Bradesco evaluating biometric system for online banking

Wednesday, June 15, 2011

Brazilian bank and insurance group Bradesco (NYSE: BBD) is studying the possible expansion of the biometric system currently used in its ATMs to authenticate internet banking transactions, tech magazine Computer World reported.

The bank's ATMs use Fujitsu's PalmSecure biometric authentication application, which features a sensor that captures the vein pattern of a user's palm and compares it with preregistered data to authenticate the customer's identity.

According to Bradesco executive VP Laercio Albino Cezar, the bank is evaluating developing a device with Fujitsu to identify accountholders on the internet. "We want to create something that isn't integrated into the client computer to use separately, as happens today with the tokens," he was quoted as saying.

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For internet banking, it will be necessary to develop a portable device, smaller than tokens, Cezar said, adding that technologies are well advanced, so there is no technical barrier to creating a device with such characteristics.

In Brazil, Bradesco has been a pioneer in using biometrics for customer recognition at ATMs. The PalmSecure application began testing three years ago, and today the technology is in 22,000 ATMs, out of 32,000 throughout the country.

"Our plan is to end 2012 with biometrics systems in 100% of our ATMs," said Cezar. Currently, 4.6mn of the 23.5mn bank customers are registered to use this technology.

"In three years, the technology has proven to be safe," the executive added.