Mofiria and 01 Systems launch ATM business in MENA area

Commercial Bank of Qatar, Qatar’s first private bank, has announced that they would introduce new biometrics technology to their ATMs,
allowing customers to do any bank transactions without having a bank card or entering PIN number.
They adopted mofiria Corporation’s finger vein authentication technology.
mofiria’s strategic partner in MENA area, 01 Systems WLL, headquartered in Kingdom of Bahrain, is engaged in this development.

Commercial Bank is the first bank in the Middle East to deploy finger vein authentication technology on ATMs.
Implementation of this technology means customers will be able to use this new security feature to access their account at Commercial Bank ATMs with finger vein sensor installed. The technology will also be extended to corporate and VIP customers to access their accounts using a finger vein sensor.

Unlike fingerprint authentication, this technology utilizes vein pattern inside a finger and only accepts a living finger. So the authentication requires the customer to be present in person every time. It realizes high security and enables the bank to eliminate any frauds as it is impossible to reproduce or forge finger vein patterns and any communications between finger vein sensor and host computer are severely encrypted using two-way authentication key. This is the cutting-edge high-tech solution that combines high reliability and safety since it is highly accurate and achieves the lowest false rejection rate among various biometrics technologies.

On the launch of this technology, Satoshi Amagai, CEO of mofiria said:
“It is our great honor that we will work with 01 Systems WLL to help improve the security and convenience of the infrastructure in the banking sector in MENA area. Our advanced finger-vein authentication system, mofiria, will surely satisfy the customer.”

Ali Sharif, CEO of 01 Systems said:
“We are delighted to announce our strategic cooperation and look forward to working with such a professional team. Together, we can enable the successful deployment of advanced security systems for Commercial Bank customers. Finger Vein technology is already widely used in international markets and provides customers with easy and secure access to thousands of ATMs. This is an exciting opportunity to set new standards for authentication technology, and more importantly to protect the customer’s identity.”

Commercial Bank CEO Joseph Abraham said:
“Biometric security features are an important tool to combat financial fraud and identity theft. Enhancing the client experience without compromising customer security is a priority at Commercial Bank. Introducing finger vein scanning technology to the local market and region is not only innovative but also provides an effective way for customers to access their accounts securely without the need for a card or PIN. Commercial Bank is proud to introduce another ‘first to market’ technology to the Middle East and we are committed to a continual investment in technology as part of our digital transformation journey to provide the best and safest experience for our loyal customers. “

About mofiria
mofiria Corporation inherits unique and patented finger vein authentication technology originally developed by Sony Corporation. This technology realizes high accuracy yet “compact, fast and comfortable” solution. mofiria is focusing on providing business developers who implement biometrics into their own products and/or services with easy-to-use solution which supports various platforms.
Web site: http://www.mofiria.com

About 01 Systems
01 Systems is a leading software solutions provider, with more than 30 years of innovation in the fields of enterprise signatory management, content management, business process automation and branch digitization. Focused on the financial sector, 01 Systems assists more than 300 customers globally, to efficiently process/authorize millions of daily transactions.
Web site: http://www.01systems.com/

About Commercial Bank
Commercial Bank has total assets of QAR 127 billion as at 30 June 2016. As a full service commercial bank, the Bank offers a full range of corporate, retail and investment banking services as well as owning and operating exclusive Diners Club franchises in Qatar and Oman. The Bank’s countrywide network includes 31 full service branches and 147 ATMs.
Web site: http://www.cbq.qa

09/01/2016

Finger Vein Recognition Technology "mofiria"