SEOUL, Jan. 17 (Korea Bizwire) – NH Investment & Securities became the first securities firm in Korea to adopt a biometric authentication system that scans veins on the palm of a user’s hand, to be used for financial transactions.
According to officials, customers who register their biometric information can take advantage of the new system at the company’s branches equipped with a handprint scanner, by simply placing their palm on top of the device.
The scanner can be used to make deposits and withdrawals, and for trading financial products without having to show other traditional means of authentication, such as a personal ID card or bankbook.
The technology identifies the customer’s information by comparing biometric traits such as the shape and thickness of veins with pre-registered information.
These traits are different for every individual and do not change over time, and due to their complexity, handprint scanning is much more secure and accurate compared to other means like retinal or fingerprint scanning, NH said.
“We also plan on introducing other biometric identification means in the future,” said an official. “We’ll continue to provide easier and more convenient financial services that can better serve our customers in the fast-changing financial environment.”
By Kevin Lee (email@example.com)