ABN AMRO banks on authentication application to fight identity theft

By on

ABN AMRO, one of the world's largest international banks, has rolled out an automated document authentication system in a bid to achieve compliance with pending regulations designed to fight identity theft. The project to deploy Viisage’s iA-thenticate offering, was undertaken in conjunction with Viisage's Netherlands business partner, Securitech B.V.

The system is designed to verify the authenticity of identity documents during the new account application process, using automatic document authentication from the Viisage iA-thenticate hardware, software and database system. The installation scans identity documents such as driver licenses or passports and determines if the documents are authentic or if tampering has occurred.

This first step in identifying fake documents is implemented in a bid to help prevent fraudulent accounts from being opened and enrollment of individuals with fake credentials, thereby improving the integrity of the new account process.

The information from authentic documents that pass the screening is automatically gathered from the ID's and entered into ABN AMRO's operating system, reducing the time it takes to create a new account. The solution shared among all the branches is interoperable, allowing for consolidated quarterly reporting on new accounts from each of the branches into the Dutch Central Bank.

Henk van Zanten, senior advisor security department for ABN AMRO Bank, said that the technology allowed the institution to move "forward in the effort to ensure the integrity of our systems".

ABN AMRO, with more than 98,000 employees worldwide in more than 60 countries. It will implement the Viisage solution across more than 650 branches throughout the Netherlands, and plans to expand its current deployment throughout all of its branches globally.

"ABN AMRO, like many financial institutions today, faces the challenge of increased accountability and compliance requirements," said Bernard Bailey, president and chief executive officer of Viisage.

Copyright © SC Magazine, US edition
Tags:

Most Read Articles

Log In

Username:
Password:
|  Forgot your password?