Banking Technology Awards 2013
London – The 14th annual Banking Technology Awards took place on October 31 at the Grand Connaught Rooms in London. The incredibly successful Awards have become established as a premier event, recognizing excellence in the use of Information Technology in financial services.
The Banking Technology Awards 2013 honored Cairo Amman Bank for achieving the great distinction in the “Best Security Initiative” category, using the IrisGuard EyeBank® customer authentication Iris-Recognition Solution.
Cairo Amman Bank’s novel Iris biometric authentication EyeBank® application identifies its customers at all banking channels, with the biological traits of their irises, to securely identify and authenticate their account access without a PIN and Bank Card.
The key success benefits for the bank are undoubtedly customer satisfaction and security. Independent reports have shown that over 95% of our customers are extremely satisfied with the new EyeBank® authentication service. The avant-garde iris biometrics security has eliminated ID fraud in addition to eradicating bank card skimming on our ATM network. To-date the EyeBank® solution has carried out millions of customer transactions using iris recognition at all bank channels successfully.
“The IrisGuard EyeBank® solution enables not only existing Cairo Amman Bank account holders, but also the un-bankable populations. Today, Syrian refugees living in Jordan, can access United Nations High Commissioner for Refugees (UNHCR) allowances and subsidies directly at all Cairo Amman Bank’s ATM machines. This is the first truly operational humanitarian relief financial inclusion Iris project.” – Remarked Mr. Malhas, CEO of IrisGuard.
Other candidates were awarded for voice recognition technology, which has limited use, generally for bank customer service inquiries, at call centers. This technology however cannot be utilized for ATMs or other automated systems. Banks will have to rely on other traditional security methods such as card and PIN combinations. Voice recognition is not a new technology, but is still in the infancy period. The required level of accuracy, required to reach dependability, is at least a decade away.
Globally, bank customers enjoy the convenience and ease of IrisGuard’s EyeBank® iris recognition innovative technology, which combines convenience, mobility and security. In addition to shorter transaction times, customers benefit from enhanced security at all customer bank touch points. Last year the top two threats in the United States were identity theft and bankcard fraud, both of which have been mitigated by IrisGuard solutions.
About IrisGuard Inc.
Established in 2001, IrisGuard is a leading provider of customer IT Banking and Homeland Security iris comprehensive solutions, focused on managing human identity requirements. In addition to its patented EyeSecure®, EyeBank® identity applications, IrisGuard manufactures the world’s most accurate Iris Recognition camera systems.
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