bank, ID, law

US: Iowa bank adds biometrics into customer ID mix

Bridge Community Bank introduces in-branch biometric security (Finextra)

…[C]ustomers submit fingerprint and facial biometric data as well as their name, address, date and country of birth and gender. Tascet uses this data to generate a 16-digit ‘financial security number’ which is linked to the customer account. To identify themselves in a branch and carry out transactions, customers then provide their name and fingerprint.

This is exactly the kind of thing we predicted in the wake of Patco Construction v People’s United Bank.

[B]anks [now] have more responsibility to shield their business customers from fraud. That responsibility, however, will entail a cost that will ultimately be borne by customers in higher fees — applied directly to this this case, wiring fees. But if not appealed and/or upheld, it means banks will be offering customers more security and charging higher prices, part of which will flow to security providers including biometric ID management providers.

Bridge Community Bank is in Iowa.

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