Banking ID

In Banking ID, we can touch the lives of banking subscribers by issuing them a smart card with captured biometric and demographic data. This card helps them utilize the bank services at bank service points.

Access control can be defined as per the need of the subscriber. This smart card can also help the bank subscribers to withdraw their entitlements from governments if they have registered with the government on the same biometrics and if they are authenticated by governments. Banks and Governments can enable this facility to its subscribers and citizens. We are passing through an era where we have seen innovations accepted in peer to peer (P2P) money transfers and retail shopping payments have witnessed rapid acceptance while B2B segments are fast catching up.

Key features of our Banking ID include:

Increasing electronic modes of payments introduce a new dimension.

Security and Identity authentication measures need to be strengthened to avoid data fraud and data breaches.

It is increasingly accepted that Passwords can no longer provide secure identity authentication.

In addition to additional security and authentication mechanisms such as chip authentication, tokenization etc, usage of biometrics for authentication of identity is gaining significant traction.

TrueID is currently focused on using the biometric platform for providing authentication services.

Biometrics are being increasingly used for Financial Payments for 2 main reasons, Fraud detection and Convenience.