Fiserv Verifast

The supplier of technological solutions for the sphere of financial services of Fiserv announced in the spring of 2016 an output to the market of the scanner of a palm Verifast – the systems of biometric authentication by means of which financial institutions will be able to reduce quantity of cases of fraud, to lower runtime of transaction and to increase quality of the offered services.

Fiserv hopes to change quality of bank service at personal visit of department by clients, having accelerated it and having made it safer due to use of technology of scanning of a palm.

In Fiserv company reported that authentication up to a palm differs from the traditional systems of biometric authentication which often work only in the manual mode and do not differ in big efficiency. This system will provide "fast, safe and exact" identification of consumers due to use of the infrared touch device which will read out the unique drawing of veins on a palm.

Karl Guynn, the development director of products of Gesa Credit Union financial company which started Verifast system testing in the three branches recently, reported: "We tested the traditional authentication process applied by us and found out that identification of the person in settlement point of sale takes about 15 seconds. Authentication according to the drawing of veins on a palm takes about one second. In other words, we accelerated accomplishment of each transaction for 14 seconds. Authentication according to the drawing of veins on a palm considerably accelerates transactions so the person, can glance for a while in office quickly to perform transactions necessary to it, and to go further on the affairs. This process is characterized by higher reliability, our clients and cashiers highly appreciated it very much".

The research conducted by Raddon financial group showed that about 83% of consumers consider authentication up to a palm as one of extremely useful functions for bank transactions. Nearly 97 percent of beta testers of service reported that they with high probability will use the given technology after its implementation in the bank environment.