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BioSignature™ is a biometric signature identification solution for employee authentication that seamlessly interfaces with existing bank software to enable banks to create concrete audit trails of transaction activity and ensure adherence to government regulations.
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BioSignature™ Why do Banks/Financial Institutions need a solution like BioSignature™? The ultimate goal of each and every bank/financial institution is to provide a safe and secure environment for clients to perform banking transactions. However, as insider fraud is rising at alarming rates, banks and financial institutions often find it difficult to properly monitor employee activity to protect customer assets. Insider fraud not only harms client accounts but it also damages the reputation of the organization. To reduce insider bank fraud and mitigate risk and regulatory fines, banks and financial intuitions should consider adopting an employee authentication solution like BioSignature™. BioSignature™ is a biometric signature identification solution for employee authentication that seamlessly interfaces with existing bank software to enable banks to create concrete audit trails of transaction activity and ensure adherence to government regulations. www.m2sys.com © 2014
Facts & Scenarios Insider bank fraud has proven to be a serious drain on assets and resources plus it can damage a bank’s brand reputation. The following examples are recent incidents of bank employees charged with insider fraud: Bank employee faces theft charges 3 Bank Mandiri Employees Arrested for Fraud Former TD Bank employee, accomplice pleads guilty to identity theft Former Bank Employee Charged With Theft Towanda bank employee charged with identity theft The following are examples of senior level bank employees charged with customer identity theft: Former Chairman of top Israeli bank convicted of fraud Former bank employee pleads guilty to stealing over $2 million from customers Ex-CEO of collapsed Virginia bank gets 23 years for fraud According to a recent secret service investigation, more than 50 percent of insider fraud is perpetrated by highly trusted employees such as managers, and the average time on the job before committing a scheme is five years! www.m2sys.com © 2014
How BioSignature™ Can Help? Seamless integration into existing banking/finance software Offers the convenience of choosing from different biometric modalities - Fingerprint, Finger Vein, or Palm Vein Establishes a concrete audit trail for employee transactions Easily incorporate into your existing workflow Force employee biometric scans and manager overrides BioSignature™ is the perfect biometric identification solution for banks and financial institutions to establish accountability and retrieve irrefutable proof of employee transactions. www.m2sys.com © 2014
BioSignature™ with M2-FuseID (Smart Fingerprint Reader) M2-FuseID™ M2-FuseID™ is a next-generation “smart” finger reader that delivers higher optimal security and reliability with advanced finger imaging and sophisticated liveness detection to prevent spoofing and fraud. M2-FuseID™ ensures 100% enrollment rates through “smart” scanning technology by simultaneously capturing both a fingerprint image and the unique finger vein pattern of an individual. Features: Capture fingerprint and finger vein simultaneously in a single touch Liveness detection feature to prevent spoofing and fraud Encrypted data transfer across USB to protect data Benefits: High accuracy, 500 DPI fingerprint image resolution Ideal for commercial markets such as financial services Unique, affordable and versatile unit with lightweight design Ideal for environments requiring the highest levels of security and accuracy. www.m2sys.com © 2014
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