25 million ATM customers in Argentina will now be able to use their fingerprints for secure banking transactions based on a new agreement signed by Xelios Biometrics and Red Link S.A.
The 47 banks bound to the RED LINK system will soon benefit from a secured biometric solution that eliminates identity fraud while increasing the speed and security of all banking transactions. The new relationship between these two companies will also increase the confidence of Red Link’s banking customers who will soon be able to use solely their secured fingerprint as a method of payment and identification.
Madrid, 26th of October, 2016 –Xelios and Red Link recently signed an unprecedented agreement for the supply of an industry-leading biometric solution for international banking.
The new agreement between Xelios and Red Link provides biometric technology to over 25 million banking customers throughout Argentina, in their almost five billion annual transactions. The main objective of the banks is to increase returns and eliminate fraud. New technologies such as fingerprint recognition have emerged as a strong authentication solution to resolve many of the problems related to bank fraud. Leveraging strong and convenient authentication Xelios Biometrics provides the means to increase bank revenues by retaining third party credit card transaction fees at the ATM and POS, enabling increased efficiency and productivity in the self-service channel, and virtually eliminating the issuance and maintenance associated with plastic cards. The cost of implementation of biometric solutions is minimal on a per ATM basis, and highly scalable with terminal sensors integrated directly into existing ATMS
Representing an important cost reduction for banks with the added value of security in the execution of transactions, the agreement between the two companies also guarantees the correct identification of the user, and decreases bank fraud by eliminating the possibility of lost payment cards, duplication, and theft of cards.
Red Link SA, based in Buenos Aires, Argentina, is a pioneering group investing in a wide technological modernization for banking transactions.
Xelios Biometrics SA, company founded on 2003, Spanish company engaged in the manufacture and commercialization of biometric solutions of logical and physical security based on – mainly, but not exclusively – fingerprint, facial and multimodal biometrics, designed for banking, financial, health and corporate services, etc.
With headquarters in Spain, since 2011 the company is present in the United States, Argentina and Mexico.