Why haven’t banks implemented fingerprint identity checks at point-of-sale terminals?
Banking
Asked by Question Bot02/Mar/20151 answer
1 Answer
F
Faisal Khan
Answered 02/Mar/2015
There are a couple of reasons for this. What do you check the fingerprint against? The prevailing privacy laws may or may not allows such fingerprinting to take place where regular picture ID would suffice.
If the laws do allow it, what are the fingerprints checked against? Is there a national database of fingerprints that can be accessed and return the biometric credentials. Pakistan is one of the few countries in the world that has this system, other countries like India, Bangladesh etc. are building it and implementing such systems as well. In Europe such a system would see massive opposition.
The KYC rules set in play today, make it adequate for a state provided picture ID to be used for KYC purposes. ATMs can very easily implement this, but then again, if there is no database at the back-end to verify the ID, then there is not much use in providing the ATM with the biometric option.
If the laws do allow it, what are the fingerprints checked against? Is there a national database of fingerprints that can be accessed and return the biometric credentials. Pakistan is one of the few countries in the world that has this system, other countries like India, Bangladesh etc. are building it and implementing such systems as well. In Europe such a system would see massive opposition.
The KYC rules set in play today, make it adequate for a state provided picture ID to be used for KYC purposes. ATMs can very easily implement this, but then again, if there is no database at the back-end to verify the ID, then there is not much use in providing the ATM with the biometric option.