1. Bank system information security
The Gramm–Leach–Bliley Act (GLB) of 1999 and its Safeguard provision mandates the protection of customer data and control of access by banking staff. For financial and insurance companies, GLB represents a number of technical and operational challenges. These mandates and their underlying principles are beginning to have equivalents in other countries and thus become an additional driver to ensure the security of data, transactions and disclosures within the financial company.
XELIOS BIOMETRICS BAFIS solution is designed to meet the requirements of these types of regulations. BAFIS ensures system administrators and stakeholders’ compliance while at the same time, increasing the overall efficiency and ease of access by authorized users. Our mission is to provide a system compliant with mandated and internal policies while improving efficiency.
BAFIS can scale to support any number of digital certificates that may be utilized in future operations.
2. Security identification system in payment. Bank fraud
With the current system, financial institutions cannot be 100% sure the person making a transaction by electronic means such as the Internet, ATM, etc is the genuine person they claim to be. The consequence of this weakness has been the growth of credit card fraud and the excessive security spending trying to contain the fraud.
XELIOS offers a solution for financial institutions and payment systems to secure transactions with online biometric identification, integrating with the centralized authorization operation: