Commercial Bank of Qatar Chooses 01 Systems’ Finger Vein Solution

Commercial Bank of Qatar Chooses 01 Systems’ Finger Vein Solution
16.08.2016 11:30 am

Commercial Bank of Qatar Chooses 01 Systems’ Finger Vein Solution

ATMs , IT Innovations

01 Systems, the regional leader in banking software solutions announced that Commercial Bank of Qatar, is the first bank in the country and the Middle East to introduce its innovative Biometric solution that enables card-less transactions on ATMs.

Implementation of this technology means customers will be able to use this new security feature to access their account at Commercial Bank branches and ATMs with finger vein scanners without need for a bank card or PIN number.

The technology maps the internal vein system within a finger, and will only accept a living finger unlike fingerprint scanning. The technology is secure and eliminates fraud as the pattern of blood vessels in fingers are unique to each individual and finger vein patterns cannot be reproduced or forged.

This technology incorporates finger vein devices from mofiria Corporation, a biometrics hardware manufacturer coupled with 01 Systems highly efficient biometric servers to produce an outstanding identification and authentication solution. Additionally, the solution is integrated with ATMs from NCR Corporation.

In the same context, 01 Systems has also signed an agreement with CBQ for the Business Process Management transformation project. CBQ banking operations will be automated based on 01 Systems BPM system to deliver an unparalleled next generation banking experience.

Commercial Bank CEO Joseph Abraham said: “Biometric security features are an important tool to combat financial fraud and identity theft. Enhancing the client experience without compromising customer security is a priority at Commercial Bank. Introducing finger vein scanning technology to the local market and region is not only innovative but also provides an effective way for customers to access their accounts securely without the need for a card or PIN. Commercial Bank is proud to introduce another ‘first to market’ technology to the Middle East and we are committed to a continual investment in technology as part of our digital transformation journey to provide the best and safest experience for our loyal customers.”

Samir El-Sheikh, COO of Commercial Bank of Qatar said: “Commercial Bank continues to focus on improving customer experience and providing greater convenience for customers by continuing to invest and innovate in the Bank’s security system. Finger vein technology is the first-to-market innovation that will give customers easy, secure access to our ATM machines and will set a new authentication technology standard to protect our customers’ accounts.”

Ali Sharif, CEO of 01 Systems said: "We are delighted to announce our strategic cooperation with Commercial Bank and look forward to working with such a professional team. Together, we can enable the successful deployment of advanced security systems for Commercial Bank customers. Finger Vein technology is already widely used in international markets and provides customers with easy and secure access to thousands of ATMs. This is an exciting opportunity to set new standards for authentication technology, and more importantly to protect the customer's identity."

Satoshi Amagai, CEO of Mofiria said: "We are thrilled to work with the market experts 01 Systems to introduce the finger vein technology in Commercial Bank. This finger vein authentication module, co-developed by mofiria using finger vein patterns for authentication, tackles forgery and identity theft. It is designed to minimize the calculations required for authentication for a faster and more secure banking process."

Related News

Belgian Banking Joint Venture JoFiCo Chooses Diebold Nixdorf As Its Sole Partner In Comprehensive ATM As A Service Agreement

Diebold Nixdorf, a global leader in driving connected commerce for the banking and retail industries, announced today it signed an ... Read more »

Discover remains the most widely accepted card scheme worldwide

The influence of China on global card acceptance is shown by the fact that Discover is accepted at more outlets than Visa and Mastercard as a result of agreements with... Read more »

PayNearby launches Micro ATM at nearby retailer shops to address the issue of ATMs running dry

PayNearby, India’s leading hyperlocal FinTech network is on a mission of building an eco-system that will redefine access to financial services for the underbanked. As part of... Read more »

Financial inclusion continues to drive ATM growth in Asia

Asia-Pacific is home to almost half of the world’s ATMs, and within this vast region, some countries continue to witness impressive growth, whilst others have started to... Read more »

Sberbank clients get ‘personalised’ ATMs

Sberbank has personalised the menu of its ATMs. Now, after a client enters their PIN code they will see a main screen that features the options they have used the most in the... Read more »

Rise in Cybercrime Tops the Agenda at ATM & Cyber Security 2019

Recent high profile cyber attacks and increasingly sophisticated threats to ATMs are creating a challenging security environment for the banking industry. At RBR’s ATM &... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel