Valid Systems, a Fort Worth provider of check cashing systems and services, is using security technology from US Biometrics Corp. of Naperville, Ill., to develop a product that its financial company customers can use to offer services aimed at the unbanked and underbanked.
US Biometrics said last week that using its technology for authenticating customers when they cash checks would improve bankers' efforts to prevent fraud and could also help them attract new customers.
Combining biometrics with Valid's check cashing products "establishes the ability to safely move the underbanked consumer into additional offerings at a financial institution but also eliminate losses due to fraud," David Delgrosso, the president of US Biometrics, said in a press release.
