1 / 10

RightAccount™ - Biometric Account Holder Identification For

M2SYS RightAccount™ multimodal biometric identification solution is built with our award-winning Bio-Plugin™ identification management software and helps to safeguard against the rise in identity theft and fraud by positively authenticating banks and financial organizations customer identities directly at the point of service.

m2sys
Download Presentation

RightAccount™ - Biometric Account Holder Identification For

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. RightAccount™ Positively Authenticate Customer Identities with RightAccount™Fast, accurate & secure bank customer identification Protect your customers and your institution Financial services customers need to feel safe and secure knowing that their identities are protected for each and every transaction. In a world where fraud and identity theft are increasing security concerns, bank patrons expect that their financial service institutions are investing in modern technology that can quickly, accurately, and securely verify their identities and protect their assets. What is RightAccount™? Our RightAccount™ multimodal biometric identification solution is built with our award-winning Bio-Plugin™ identification management software and helps to safeguard against the rise in identity theft and fraud by positively authenticating customer identities directly at the point of service. www.m2sys.com © 2014

  2. Fraud and ID Theft A Rising Concern Identity Theft & Bank Fraud Facts and Stats • The number one reason behind bank fraud is the customer identity theft. • An approximate 10 million people are victims of identity theft every year. • There are 19 new victims every minute of every day. • Bank ID theft is increasing at an alarming rate and is affecting millions of people. • The majority of identity theft incidents (85%) involved the fraudulent use of existing account information, such as credit card or bank account information. • Victims who had personal information used to open a new account or for other fraudulent purposes were more likely than victims of existing account fraud to experience financial, credit, and relationship problems and severe emotional distress. Source: Identity Theft - Facts and Figures www.m2sys.com © 2014

  3. The Negative Effects of Bank Fraud Bank Fraud Statistics • Financial institutions incurred $955 million in losses due to debit card fraud in 2010 – a 21% increase from the $788 million in losses incurred during 2008. • In 2011, 59% of the more than 37 billion debit card transactions that were made were verified by signature, 85% of all fraudulent debit card transactions involved signature “verification,” and $1.15 billion of the total $1.35 billion in debt card fraud losses (85%) stemmed from signature debit card transactions. • Identity theft is a form of fraud that often results in unauthorized credit card and debit card transactions.  There were 13% more cases of identity theft in 2011 than in 2010, yet the costs incurred by consumers actually represented a 44% decrease over the course of the previous eight years. Source: Credit Card & Debit Card Fraud Statistics www.m2sys.com © 2014

  4. RightAccount™ Helps to Prevent Fraud Features of RightAccount™ www.m2sys.com © 2014

  5. RightAccount™ Workflow Customer enters the bank and is directed to bank employees for account transactions Bank employee logs into the core banking application Employee opens the new customer account opening screen RightAccount™enrolls customer based on fingerprint + finger vein pattern (when used with M2-FuseID™ device) Customer scans a finger RightAccount™ prompts for customer finger scan – locks all other operations New account opening screen continues Audit trail created We recommend our M2-FuseID™ “smart” finger scanner as the biometric modality. www.m2sys.com © 2014

  6. How Does RightAccount™ Authentication Secure Bank Transactions? www.m2sys.com © 2014

  7. Why Adopt RightAccount™? • Here are some benefits of using RightAccount™ for customer authentication: • Establish safe and secure transactions by protecting customer identities with their unique biometric features such as fingerprints and finger vein patterns. • Improve customer service by eliminating the risk of sharing personal information over unsecured telephone lines with the use of voice biometric for customer authentication. • Reduce identity fraud at the point of service by providing biometric authentication on mobile phones. www.m2sys.com © 2014

  8. RightAccount™ Recommended Hardware • M2-FuseID™ “Smart” Finger Reader • Next-Generation Fingerprint Reader Delivering Optimal Security & Reliability with Advanced Finger Imaging and LivenessDetection • Capture fingerprint and finger vein simultaneously in a single touch • Contactless biometric data capture • Liveness detection feature to prevent spoofing and fraud • Encrypted data transfer across USB to protect data • LED display visual feedback • Intuitive interface • Expansive operating range (0° - +40°C, wet or dry) www.m2sys.com

  9. Contact Us www.m2sys.com © 2014

More Related