Tech Council Examines 'Under-Utilized' Technologies
MADISON, Wis.-Calling them both under-utilized technologies, the CUNA Technology Council has authored two white papers exploring radio frequency identification (RFID) and biometrics.
"RFID: Paying for Purchases the Contactless Way" outlines the potential of RFID-also referred to as "contactless" technology, often used for high-volume, low-dollar-amount purchases-along with ways to educate members about its convenience and functionality.
"Biometrics Trends and Practices" delves into the uses and practicality of biometrics. According to the white paper, financial institutions are among the top ten industries predicted for rapid biometric growth. Currently, an estimated 50 to 100 credit unions use biometric applications.
For info: www.cunatechnologycouncil.org/tools/research.html
PNC Bank Takes Different Approach To Authentication
PHILADELPHIA-PNC Bank is introducing a different kind of online authorization that will require customers to choose an image than describe it in writing-in order to gain access to their online account.
The bank's new system will also require customers logging on from computers other than their home PC to answer a preselected question, like their mother's maiden name, to gain access.
The new system went live last week. The system will comply with the new federal regulation requiring multifactor authentication.
