“The recent series of intrusions into banks has reaffirmed our belief that the days of the username, PIN and password must be placed behind us,” Carter said. “We are currently experiencing a crisis level need for new methods of logical security if we want to protect the institutions that serve as the backbone of our country.”
Carter said EyeLock, an iris-based identity management technology aimed at enhancing security to protect against theft and financial fraud, has worked with America’s financial institutions to find a more reliable solution to eradicate fraud.
“We now call on the industry and regulators to move quickly toward a new solution, one focused on a stable biometric to authenticate identity, such as the iris, to protect America’s financial security and remove points that are currently making us vulnerable to attacks,” Carter said.
EyeLock provides several products, including the EyeSwipe-Nano, HBOX and EyeSwipe-Nano TS, that provide biometric alternatives to card systems. Iris patterns are unique in every person and even in the two eyes of the same individual. The technology provides iris scanning technology that performs in-motion, at-a-distance biometric identity matching.