In 1997 -- before Y2K, before the iPod, and before most people had wireless Internet -- Purdue Employees Federal Credit Union became the first CU to use biometrics when it installed remote kiosks that members could access by scanning a fingerprint. Without entering a branch, members could open accounts and conduct transactions from a remote location that, compared to a traditional ATM, was virtually fraud-proof. Roger Grant, founder of Human Element Biometrics and owner of RG2, has been pushing biometrics since 2002. He says even as recently as a few years ago, the financial industry biometrics market was expected to surge. By installing a few pieces of software and plugging matchbook-sized scanners into USB ports, Grant says CUs can save themselves money and their IT staff a lot of grief. Biometrics, on the other hand, helps with your compliance, but in the long run it will actually pay for itself.
Operations Placing a Finger … … on biometrics. This technology hasn’t
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