Capco, financial services technology consultants, and EyeLock, provider of iris-based identity authentication products, have teamed up to bring Iris biometric security to banks.
EyeLock’s technology is aimed at increasing security for keyless bank entry, customer-facing applications, online and mobile systems, account opening, check clearing and wire transfers.
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EyeLock estimates that with the implementation of their technology major banks will save $45m annually by using keyless bank entry for employees and vendors alone.
Bill Adiletta, New York technology partner at Capco, said: "Each year, financial firms lose tens of billions of dollars due to security breaches. There has long been a need to find a better solution as security risks continue to escalate, especially as we move to an increasingly digital society. Fortunately, the technology to prevent security breaches has progressed exponentially. EyeLock’s iris authentication system delivers the technology to effectively reduce cost, mitigate fraud and increase consumer satisfaction."
Anthony Antolino, chief marketing officer at EyeLock, said: "Our partnering relationship with Capco accelerates our growth and market reach deep into the financial services marketplace. EyeLock continues to provide significant value across global vertical markets through partnering relationships with market leaders, and working with Capco to further penetrate the financial services sector will ultimately provide a huge competitive advantage for their customers that adopt this technology."
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