Jinee Ellis put her phone inches from her face and looked right at it.
Biometric technology scanned her eye veins and opened her Wells Fargo corporate bank account.
Jinee Ellis, Wells Fargo senior vice president of Wholesale Internet Solutions, demonstrates biometric technology -- using her eye print, she logs into her corporate commercial account.
Enlarge
Jinee Ellis, Wells Fargo senior vice president of Wholesale Internet Solutions,… more
Monica Mendoza | Denver Business Journal
It wasn’t a scene from a futuristic movie. It was a live demonstration Tuesday at the Association of Finance Professionals' annual conference in downtown Denver, which began Sunday and runs through Wednesday.
Ellis, Wells Fargo & Co.'s senior vice president of Wholesale Internet Solutions, showed off the latest banking technology that reads face, voice and eye prints to access corporate commercial bank accounts.
Even with twins, eye veins structure is different in every eye, said Secil Watson, Wells Fargo's executive vice president, head of Wholesale Internet Solutions.
People on the Move
Carrie Arnold
Carrie Arnold
Park Avenue Properties
Greg Smith
Greg Smith
Bank of America Merrill Lynch
Andrew Oliver
Andrew Oliver
Pat's Place Child Advocacy Center
See More People on the Move
“From a machine’s perspective, they look at a number of elements in the eye and they can make a print — the eyes have more elements than even the face,” she said.
Wells Fargo (NYSE: WFC) has tested the biometric technology with a small group of its corporate commercial bank customers and plans to roll it out to all its corporate customers in the first half of 2016, she said.
Wells Fargo heard from its business customers that they appreciated the bank’s one portal, called Commercial Electronic Office (CEO), that allows them access to any bank transaction they wanted.
But logging on still requires a customer user name and password and a token that has an ID number that changes every 90 seconds that must be entered.
“If you have eight banking relationships which a lot of treasurers do you have a different token for each bank,” Watson said. “One customer said, ‘this is ridiculous, my daughter loves playing with this,’” referring to a key chain with the tokens.
Wells Fargo looked to biometrics to make life easier for the customers and stave off hackers. They wanted a solution that was easy to use, discreet, and flexible to all customers and secure, Watson said.
In October 2014, Wells Fargo was the first U.S. bank to pilot face and voice authentication technology. About 100 customers got the app on their iPhones and tried it in the train station, on top of a mountain, in bed or while they were multi-tasking on other devices.
LINK - [
link to www.bizjournals.com]
United States
Netherlands