On the heels of signing Santander Mexico for its fingerprint scanners, Integrated Biometrics announced that the majority of the country’s largest financial institutions have selected its products to comply with their legal obligations regarding fraud prevention and protection of privacy.
Scotiabank, Principal Afore, MetLife Afore, Banco Azteca, Sura and PENSIONISSSTE have all adopted integrated biometric scanners, among more than 20 of the largest national and global financial institutions in Mexico. Santander purchased Kojak scanners, although the particular units that were adopted by other institutions are not specified.
Mexico’s Comisión Nacional Bancaria y de Valores (CNBV), an independent body within the Secretariat of Public Finance and Credit, passed a law in 2018 requiring financial services organizations in the country to use multi-factor biometric authentication for new accounts, including credit cards and loans. The purpose of this requirement is to prevent identity theft, fraud, money laundering, and other criminal activity, while protecting customer privacy. The country has also used biometric fingerprint scanners in its voter registration processes for years, Integrated Biometrics points out in the announcement.
Biometric app is a partner of Integrated Biometrics and one of the main Mexican distributors of biometric identification systems.
“While FSOs in Mexico understood the need to work quickly to meet mandate requirements, they were also aware of the magnitude of the benefits their customers could derive from the increased security provided by these measures,” said Miguel Loera. Marin, Business Development Manager for Biometria Aplicada. “The combination of features offered by IB’s fingerprint scanners (mobility, reliability, durability, low power consumption and ease of use) has led almost every major financial organization in our country to implement them. . »
Once the accounts are registered, all future access to the accounts is enabled with fingerprint recognition, also via the integrated biometric scanner.
“Mexico is one of the largest emerging economies in the world and has acted decisively to protect customer privacy and prevent identity theft, fraud and money laundering,” said Jim Bell, vice president for Latin America for integrated biometrics. “To meet legal requirements and the needs of their customers, FSOs needed mobile, rugged and compact biometric fingerprint scanners. The list of banks we work with is clear proof that IB fingerprint scanners have become the de facto standard for the whole country.
access control | banking | biometric identification | biometrics | fingerprint scanners | fingerprints | fraud prevention | identity verification | Integrated biometrics | Mexico | privacy