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CIO Charaka Kithulegoda explains in an interview how and why Canada's largest online bank is letting people bank through Facebook.
March 21 -
Nok Nok Labs, a startup run by the founder of data security vendor PGP, is developing technology that could let biometric authentication mechanisms communicate easily with servers.
February 12 -
What's wrong with passwords? Plenty, if you ask almost anyone. The traditional user name and password is old and unsafe. The alternative is "bring your own ID" - voice, fingerprint and facial recognition technology that's emerging from tests into production.
January 1
Stanley Security Solutions is betting on biometrics.
The security services unit of Stanley Black & Decker (SWK) said Monday it has formed a partnership with EyeLock, a developer of identity management software that authenticates people by scanning their irises.
The pact gives Stanley the exclusive right to distribute EyeLock's system for access control applications in the U.S., Canada and Europe. The companies also will set up a certified dealer program for EyeLock's technology, which organizations can use to control access to cash management systems, offices, healthcare facilities and other premises and platforms.
Iris-based authentication scans the pigmented circle that surrounds the pupil of the human eye. The iris, which contains more than 200 unique points, permits verification second in accuracy only to DNA, according to the companies.
The partnership comes amid a series of efforts by banks and other firms to test biometric recognition. ING Direct Canada (ING) is
The technologies can overcome limitations of passwords, which can be easily stolen or guessed. The biometric recognizers also can relieve consumers of having to manage multiple passwords. Fifty-eight percent of online adults have five or more unique passwords for varied logins, and 30% have more than 10 unique passwords they need to remember, according to a
EyeLock's system is said to recognize from a distance the iris of someone in motion at the rate of roughly one person per second, enabling the system to replace conventional card or key-based access.
"This technology will help companies address issues that have been plaguing them for years, namely, that millions of dollars are lost annually to security breaches, identity theft and fraud," Jim Demitrieus, EyeLock's chief executive, said in a press release.
Brett Bontrager, a senior vice president at Stanley Security Solutions, called EyeLock's technology "the most fundamental change in access control since the creation of the lock and key."
