Commercial Bank, Qatar’s first private bank, has announced that it has obtained the Qatar Central Bank’s approval to introduce finger-vein pattern recognition technology to its ATMs, allowing customers to withdraw cash without the need for a bank card or PIN.
Commercial Bank is the first bank in Qatar and the Middle East to obtain approval to deploy finger-vein pattern recognition technology. Implementation of this technology means customers will be able to use this new security feature to access their account at Commercial Bank ATMs with finger-vein scanners installed, and the technology will also be extended to corporate and VIP customers to access their Internet banking accounts using a finger-vein scanner. Registration to use the finger-vein scanning technology is free.
The technology maps the internal vein system within a finger, and will only accept a living finger unlike fingerprint scanning, meaning that authentication requires the customer to be present in person each and every time. The technology is secure and eliminates fraud as the pattern of blood vessels in fingers are unique to each individual and finger vein patterns cannot be reproduced or forged.
For finger-vein scanning to access Internet banking accounts, communication is encrypted between the scanner device and the host’s PC using a two-way authentication key. The technology is highly accurate and rejection rates for users are among the lowest for biometric technology, making finger-vein authentication a reliable and secure high-tech solution.
Abdulhadi Ahen, the acting director of banking, payment & settlement systems at Qatar Central Bank, attended the first demonstration of the new finger-vein technology presented by Commercial Bank. The demonstration showcased cutting-edge features that will eliminate the possibility of forgery and heighten security measures of daily ATM customer transactions. Commercial Bank is set to immediately begin with the implementation of the high-tech security solution in the local market.
Qatar Central Bank and Commercial Bank executives at the demonstration.
Commenting on the launch of this technology, Commercial Bank CEO Joseph Abraham said: “Biometric security features are an important tool to combat financial fraud and identity theft. Enhancing the client experience without compromising customer security is a priority at Commercial Bank. Introducing finger-vein scanning technology to the local market and region is not only innovative but also provides an effective way for customers to access their accounts securely without the need for a card or PIN."
Ali Sharif, CEO of 01 Systems, said: “We are delighted to announce our strategic co-operation with Commercial Bank and look forward to working with such a professional team. Together, we can enable the successful deployment of advanced security systems for Commercial Bank customers. Finger-vein technology is already widely used in international markets and provides customers with easy and secure access to thousands of ATM machines. This is an exciting opportunity to set new standards for authentication technology, and more importantly to protect the customer’s identity.”
George Flouros, NCR IMEA vice president for Financial Industry, said: “NCR empowers customers and enterprises to do business on their own terms backed by our innovations that make banking easier and more convenient. It indeed gives us immense pleasure to partner with Commercial Bank in their digital transformation journey of bringing true omni-channel solutions over the next few years, and the introduction of the first-ever finger-vein authentication technology to the region reiterates our commitment.”
Satoshi Amagai, CEO of Morfiria, said: “We are thrilled to work with the market experts 01 Systems to introduce the finger-vein technology in Commercial Bank. This finger vein authentication module, co-developed by Morfiria using finger vein patterns for authentication, tackles forgery and identity theft. It is designed to minimise the calculations required for authentication for a faster and more secure banking process.”