New biometric standard proposed for financial industry
The International Organization for Standardization has created a new standard for the use of biometrics in authenticating consumers in financial transactions, according to a Bank Systems & Technology article.
ISO 19092:2008 details the framework for using biometrics in financial services. It introduces the different types of technologies and issues concerning their application.
The following are within the scope of the standard:
- Usage of biometrics for the authentication of employees and persons seeking financial services by verification of a claimed identity and identification of an individual;
- Validation of credentials presented at enrolment to support authentication as required by risk management;
- Management of biometric information across its life cycle comprised of the enrollment, transmission and storage, verification, identification and termination processes;
- Security of biometric information during its life cycle, encompassing data integrity, origin authentication and confidentiality;
- Application of biometrics for logical and physical access control;
- Surveillance to protect the financial institution and its customers;
- Security of the physical hardware used throughout the biometric information life cycle.
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