EVOLUTION OF BANKING

INNOVATION IMPACTING
BANKING: ID and FRAUD
1. SWIPE 2. SCAN
Review your purchases and
swipe your credit card
Link card to palm/hand / for
future cardless payments
3. FINISH 4. REVIEW
Scan palm/hand at future
checkouts and select desired
card for payment.
Review transactions,
track expenses, and
manage your wallet
Single digital identity
What is it – Having to remember a myriad of usernames and
passwords is a friction point for consumers. The introduction of a
single digital identity with which consumers can log in to any website
is a realistic solution for the future. It could also act as a data locker
for customer information so they don’t need to enter information
into websites. Implementing a single digital identity will simplify the
protection of consumers.
PulseWallet – pay with a hand
wave
What is it? – Fujitsu PalmSecure
biometric sensors use a nearinfrared
light to capture a user’s
palm vein pattern, generating a
unique biometric template that is
matched against the encrypted
patterns of pre-registered users.
Registration at any PulseWallet
terminal takes less than one
minute and authentication takes
less than one second.
Mobile image capture
What is it? – Customers resent
having to present ID and other
documentation in branches. This
functionality already used by
NatWest and RBS in the UK allows
customer to take photos of the
ID when its convenient for them
and upload it to the bank. Future
developments of image capture
will allow customers to submit
identification, utility bills and proof
of income reducing the need for
enforced branch visits.
The Evolution of Banking and Financial Services | 37