BROOKFIELD, Wis.—Biometric authentication for employee systems improves staff productivity and attitude, as well as the bottom line, according to Fiserv.
But which form of biometrics is most effective?
The company said it favors palm vein authentication—where a scanner reads the vein pattern in the palm—as opposed other biometric authentication methods, such as fingerprint and retinal scans. Fiserv contends that palm vein authentication is more convenient for users and more secure.
Fiserv offers its Verifast palm vein scanning system for employees and another version for members to use when they stop by a branch.
Ryon Packer, SVP of products, credit union solutions, said both solutions, introduced last fall, are receiving a lot of CU interest.
Employee Use
Packer spoke with CUToday.info about the benefits credit unions are receiving from Verifast, including more in-branch cross sales, reduction in staff turnover, and lower IT expenses.
Packer reported that one CU using Verifast for its staff has said the cost for the system has been offset by not having to pay one employee to reset forgotten passwords all day.
Packer termed palm vein scanning the “most secure” of biometric authentication methods.
“Your vein pattern is more complex than just about any other pattern used for biometric authentication,” said Packer. “It is impossible to fake.”
Packer said that for the scan to work the hand has to have blood pumping through it, so the person has to be present to log in. “You just hold your hand over the device, it scans through your skin, and nothing affects the reading, such as dry skin, dirt or an injury.”
While Verifast can be used with members for in-branch self-service, which a number of CUs are using, Packer said more credit unions are turning to the employee solution.
“That is gaining the most traction early on,” said Packer.
The employee tool eliminates all of the separate passwords for different systems, which Packer said can sometime climb to 20 for tellers.
“When we talk to credit unions we find they tend to underestimate the number of different systems tellers use each day,” said Packer. “Staff tend to keep cheat sheets on paper or inside PC files, which creates a security risk. And there is the cost for resetting forgotten passwords.”
Scanner Inside Mouse
Packer said having the palm scanner, which can be fitted into a computer mouse, makes moving in and out of different systems “seamless” for member contact staff.
“That’s important, because with Verifast the conversation with the member is not interrupted,” said Packer. “With the login and password systems, if the MSR is talking to a member and the member changes course and has a question about their credit card, the employee asks the member to wait while they log in. That’s distracting. With palm scanning the staffer simply clicks over to that new system and they are in, the conversation continues and things keep moving.”
Credit unions like the employee solution a great deal because of the immediate return on investment, said Packer. He said CUs are not only seeing savings from productivity improvement and better cross-selling, but employees are happier.
“This makes their job a lot easier, they are happier and staff turnover is lower,” said Packer. “Fifty percent of a credit union’s expense is people. This solution reduces the cost of training per person, reduces turnover and makes employees happier, which improves member service.”