arig bank to launch biometric for customer authentication
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Case Study Arig Bank First in Mongolia to
Launch New Biometric Reader for Customer Authentication
Case Study : Arig Bank first in Mongolia to launch new biometric reader for customer authentication
In 2014, M2SYS Technology and Infinite Solution (local partner) together worked with Arig Bank of Mongolia in order to streamline their customer authentication process at their branches with the help of biometric technology. Currently the bank is using our finger vein technology to authenticate more than 400,000 customers.
Contact Information: +1 770 [email protected] | www.m2sys.com1050 Crown Pointe Pkwy │ Suite 850 │ Atlanta, GA 30338 USA
Case Study : Arig Bank first in Mongolia to launch new biometric reader for customer authentication
Challenges:
Security breaches and employee transaction
fraud issues
Lack of an ability to automatically confirm
and identify their customers
Provide safer verification systems
Cut customer fraud risks
Infinite Solution integrated this solution because Arig Bank of Mongolia was facing several problems and challenges. Listed below are some major challenges leading to the deployment of biometric technology :
Contact Information: +1 770 [email protected] | www.m2sys.com1050 Crown Pointe Pkwy │ Suite 850 │ Atlanta, GA 30338 USA
Solution:
In an effort to address the problem of identity theft Arig Bank selected Bio-Plugin™ and the FuseID™ ‘HYBRID’ fingerprint reader to work in tandem with their existing core banking software (Infosys’s Finacle). The technology has been piloted in 2013 in two branches with 20 terminals. Listed below are the major deployment parameters of this project:
Enabled fingerprint and finger vein verification system
Deployed in two branches with 20 terminals
Initial database size of the pilot project was 30,000
Scalable database upgrades to 390,000
Case Study : Arig Bank first in Mongolia to launch new biometric reader for customer authentication
Contact Information: +1 770 [email protected] | www.m2sys.com1050 Crown Pointe Pkwy │ Suite 850 │ Atlanta, GA 30338 USA
Software Solution Overview:
Case Study : Arig Bank first in Mongolia to launch new biometric reader for customer authentication
Bio-Plugin™ is a revolutionary biometric middleware solution that allows developers to rapidly integrate a multi-modal biometric system without the development work required from a low level biometric SDK. Below are the features and benefits of the Bio-Plugin™ solution:
Features: Supports fingerprint, finger vein, palm
vein, iris, facial, and voice recognition Supports any SQL compliant database,
including MS SQL Server, Access, MySQL, Oracle 9i, DB2, Informix
Scalable, high-performance matching server for large implementations
Compatible with Windows and Web applications
Benefits: Integrate a complete biometrics system in a
few hours No system dependencies Includes biometric verification (1:1) and
robust identification (1:N) software Easily mix-and-match biometric modalities
and devices without additional programming
Simple, affordable licensing model
Get This Bio-Plugin™ SDK
Contact Information: +1 770 [email protected] | www.m2sys.com1050 Crown Pointe Pkwy │ Suite 850 │ Atlanta, GA 30338 USA
Case Study : Arig Bank first in Mongolia to launch new biometric reader for customer authentication
Hardware Solution Overview:
Features: Capture fingerprint and finger vein
simultaneously in a single touch High-level encrypted data transfer
across USB LED display visual feedback Intuitive interface Expansive operating range (0° –
+40°C, wet or dry)
Benefits: High accuracy, direct light resistant design Ultra-precise, FBI-compliant 500 DPI
fingerprint image resolution Sophisticated liveness detection Compact and versatile unit with lightweight
design Compatible with M2SYS Bio-Plugin™
Matching System, RightPatient®, and RightPunch™
M2-FuseID™ is a revolutionary “smart” fingerprint reader that delivers higher levels of security, reliability, and accuracy than other fingerprint scanners. The M2-FuseID™ Finger Reader simultaneously and safely captures the unique finger vein pattern inside your finger along with a copy of your fingerprint. Here are the benefits Arig Bank realized after the deployment: Get This M2-FuseID™ Finger Reader
Contact Information: +1 770 [email protected] | www.m2sys.com1050 Crown Pointe Pkwy │ Suite 850 │ Atlanta, GA 30338 USA
Case Study : Arig Bank first in Mongolia to launch new biometric reader for customer authentication
Benefits:
Advances in biometrics, heightened safeguarding requirements, and public perception has made Arig Bank more cognizant of how they protect their customers and their information. Bio-Plugin™ and FuseID™ helped them secure the authentication process and has become nearly a de facto standard due to increased incidents of identity theft in Mongolia.
Accurate customer identification
Fast and secure transactions
Concrete audit trails of transactions
Prevention of banking fraud
Convenience to the banking system
Contact Information: +1 770 [email protected] | www.m2sys.com1050 Crown Pointe Pkwy │ Suite 850 │ Atlanta, GA 30338 USA
Case Study : Arig Bank first in Mongolia to launch new biometric reader for customer authentication
About M2SYS:
Delivers innovative, scalable, and practical identity management solutions that increase security and convenience
Millions of customers in more than 100 countries worldwide ISO 9001:2008 Quality Management System (QMS) Certified Company Registered vendor for The United Nations Global Marketplace portal (UNGM # 377090).
M2SYS Technology is a U.S. based biometric research and development firm. Our goal is to enable end users to capitalize on the benefits of using biometrics for security and identity management by accelerating their return on investment (ROI).
Contact Information: +1 770 [email protected] | www.m2sys.com1050 Crown Pointe Pkwy │ Suite 850 │ Atlanta, GA 30338 USA