Bank Account Holders Identification for Retail Bank’s Expansion

biometrics authentication for banking
Compulynx works with Innovatrics

Before

  • Separate customers databases for different branches
  • Customer authentication with document
  • Inconsistent customer profile for each account

After

  • Centralized biometric database (CBD) of customers
  • Accurate customer authentication with fingerprint
  • Single biometric profile for every customer

      Concerns about the reliable authentication of bank customers

      Equity Bank was founded as Equity Building Society (EBS) in October 1984 and was originally a provider of mortgage financing for the majority of customers who fell into the low income population. Ever since then Equity continued in the mission to financially empower and elevate communities at grassroots level throughout Africa.
      While implementing their regional expansion strategy through acquisitions of smaller banks, Equity encountered the problem of a reliable/secure authentication of over 1 million new customers.

      Retail banks pride themselves on the speed and efficiency of their services. Unfortunately, they are also deeply concerned about the authentication of customers, especially when withdrawing cash from an account. In the event of misidentification, the bank is responsible for the error! As such, retail banks must find and implement customer authentication systems that are both efficient and highly secure.

      • Integrating a smaller banks into a larger system

        Poor standardization around identification and authentication of account holders

      • Costs of customer misidentification

        In the event of misidentification, the bank is responsible for the error

      Secure & reliable customer authentication with fingerprint biometrics

      CompuLynx, a trusted IT partner of Equity Bank, architected and deployed a solution utilizing Innovatrics ABIS (Automated biometric identification system) featuring powerful fingerprint authentication.  to solve the critical issues of an efficient and secure authentication system.

      The purpose of the system was to provide Equity Bank with both an immediate answer to their recent acquisition as well as a scalable system that could be deployed to other acquisitions as part of its retail expansion strategy. The system relies on centralized biometric database (CBD) of customers fingerprint at Equity Bank’s Data Centre in Nairobi, Kenya. The Innovatrics ABIS maintains a single biometric profile for every customer, irrespective of the number of accounts the customer may hold with Equity Bank (savings, loan, hire purchase, home, education, etc.).
      When customer wants to register for new service, withdraw money or perform any bank transaction, Innovatrics ABIS performs 1 to N matching operation to prevent identity fraud.

      • Centralization

        The system maintained a centralized biometric database at Equity Bank’s Data Center

      • Consistency

        The system maintained a single biometric profile for every customer

      • Fraud Prevention

        High-speed 1 to N fingerprint matching with up to 20 million records within 6 seconds

      Central biometric database of customers to prevent fraud

      Equity Bank now has a centralized system to provide banking customer authentication that provides a smooth user experience while preventing fraud.  

      The web based solution is compliant with all necessary banking standards and security requirements. In addition, the scalable solution can be easily deployed at future retail banking sites. This ensures that Equity Bank can continue its regional expansion strategy with the knowledge that it can easily integrate sites into its secure, biometric authentication system.

      • Reduced identity fraud

        Highly secure authentication method using fingerprints

      • Scalability

        Easily deployable at future retail banking sites

      The power of
      strong partnership

      The effort

      As a specially-architected solution, CompuLynx worked with Innovatrics to identify the critical pieces that would meet Equity Bank’s short- and long-term needs. Beginning with design, CompuLynx worked with the Equity Bank to understand the critical issues and how the solution would need to scale with future expansion plans. Once the design was finalized, CompuLynx worked with Innovatrics engineers put together the hardware and software, implementing an “off-the-shelf” solution that could be deployed at any future retail banking site.

      High speed biometric verification

      The CBD, developed by CompuLynx as a central repository of all Equity Bank biometric data, runs concurrently with an ultra high-speed biometric verification engine that can compare a biometric fingerprint image with up to 20 million records and check for duplication within six seconds;

      Connectivity

      Each retail-banking branch was connected to the CBD via a dedicated, high-speed data line.

      ABIS Datasheet Download

      DATASHEET Biometrics, tailored

      The Innovatrics Automated Biometric Identification System

      Download Datasheet