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  • Category: Miscellaneous

    How safe is fingertip banking?

    Earlier we used to come across catch phrases like 'banking your finger tips' etc. Such catch phrases were used to promote mobile banking apps. The catch phrases meant that you can use your finger tips for operating touch pad of smart phones for banking transactions.
    However recently IndusInd bank has introduced 'fingertip banking' which enables the users to carry out end to end financial transactions using their fingertip biometrics instead of passwords.
    Earlier the DCB had launched biometrics based ATM machine in Bengaluru.
    Now people will no longer required to memorize passwords for financial transactions which using such systems.
    How safe is fingertip banking?
  • #571460
    Well, it should be safe. The banks would not use it if it were the reason for any worries.

    Every technology has been looked upon with doubts when it is launched initially. Debit cards did not get much attention during the initial days of their inception. The app uses a secure swipe pattern for the finger print scanner.

    In fact, I would say the finger print technology is more secure than the password system. Passwords can be guessed, or found out by using certain techniques. But, fingerprint cannot be stolen.

    Live....and Let Live...!

  • #571462
    With the advent of new technologies, the banks are changing to new trends and introducing customer friendly banking services. I do appreciate that by having bio metric or finger tip banking transaction, the bankers would be assured of right account transaction and the customer also get convinced that no fraud can takes place. In password transaction there are instance even banks have been frequently alerting us to change the pass words and we wont remember them. This new service is really user friendly and there cannot be distrust at all.
    K Mohan
    I consider myself as the learner everyday

  • #571616
    Although I have not used this fingertrip app, but I am sure before lunching banks must have checked several times its positive and negative things, then only they have released it for their customers. banks always trying to bring new technology so that customers can get more as well as the work pressure from branch level will get reduced.

  • #571663
    Fingertip banking would be very safe simply because the fingerprints of two persons can't be same. It can be misused only when a person submits his fingerprints as specimen in the name of any other person.
    Although fingertip banking is a new concept in India, Swiss banks (for example) have been using this system for decades.

    “Whenever I feel the need to exercise, I lie down until it goes away.” - Paul Terry

  • #571666
    Fingertip banking will be most secured and simple means of money transection.
    As no two people can have same finger prints no other person will be able to misuse the passwords and it will also help in refucing cyber crimes.
    Also it will be very helpful for the eldery and often illiterate people to use the atm's and simplebanking transections.

    "It is hardest thing in the world to be good thinker without being a good self examiner"

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