HSBC is using
biometric technologycapable of
recognising over 2,500 different facial features to help it
control access to datacentres.
HSBChas tested
technology from OmniPerception at its headquarters in Canary
Wharfto protect sensitive data. The system uses cameras and ID and
software to verify identification.
David McIntosh, CEO at OmniPerception, said
HSBC is the first bank to take thetechnology. He said the
company's existing customers include police forces in Liverpool and
London which use the technology for custody management and
investigations.
Financial services institutions are investigating the technology
following a spate of high-profile data losses. Cases such as the
£3.6bn rogue trader fraud at Société Générale have highlighted
the financial and reputational costs security breaches can
cause.
Junior trader Jérôme Kerviel used his knowledge of IT systems to
help him
make unauthorised trades which led to billions of pounds in
losses in January this year.
Société Générale is
spending £80m over the next two yearsto prevent a further
incidents. Part of this comprises biometric security
technology.
Bob McDowall, analyst at Towergroup, said this type of
technology will reduce fraud but banks will find it challenging to
manage its use.
"I think there will be more of this but there will have to be
policies to control its use," Bob McDowall added.
How it works
The
facial recognition technology uses a set of algorithms that
monitor over 2,500 parameters on the face. A datacentre users gain
access to sensitive areas by typing in a secure pin, or waving an
RFID tag in in front of a reader to identify themselves. The
technology then checks the face to see if the person is who they
say they are. The process takes seconds.