Authenticating Transactions using Bank-Verified Biometrics
This addresses security and efficiency issues in banking authentication for global transactions, though it appears incremental as it builds on existing biometric and network technologies.
The paper tackles the problem of authenticating financial transactions by proposing a scheme where banks collect and verify biometric data (e.g., fingerprints) from customers for use in PoS, ATM, and online transactions, resulting in a system capable of handling 4 million transactions per second using GPU.
In this paper, we propose a scheme by which banks can collect and verify biometric data eg, fingerprints, directly from their customers and use it to authenticate their transactions made through PoS/ ATM/ online console. We propose building a network of computers called BioNet to allow such transactions to be made online across the world. A BioNet server will be able to do 4 million transactions per second using GPU.