08/ 01/ 2004
by Joan E. Lisante
Risk management has gone high-tech, thanks to new security products that use biometrics, which are unique biological markers (such as fingerprints or facial measurements) that distinguish individuals from one another. A key advantage: Users don’t have to keep track of keys, remember passwords or worry about someone spoofing their identity.
The International Biometric Group estimates that civilian spending on biometrics will skyrocket over the next four years, reaching nearly $2 billion dollars by 2007. Knowing what’s available will let you pick the right tools for your needs and budget.
Hand scanners. The shape and dimensions of a person’s hand are unique. Scanners combine these measurements into an electronic template, stored in a database with the user’s ID number.
Facial recognition systems. Some systems use streaming video to identify people sitting in front of a computer who have proper access. When that person leaves, the computer cuts off access.
Tracking and locator systems. Keep tabs on orders, people or vehicles. Companies like HSTC implant a global positioning device in a package, enabling the sender to track its location. Similar devices also track people and vehicles.
Iris scanning devices. Measuring fibers, furrows and freckles in the colored part of the eye, iris scanning devices have been around since the ’80s and are very reliable.
Fingerprint readers. Reduce fraud and cut down on bad checks with fingerprint readers. With services from companies like BioPay, LLC, a customer “enrolls,” by having a blank personal check, ID and index fingers scanned on a small pad. On the next use, when the customer keys in his ID number and places a finger on the reader, the payment is authorized within 10 seconds.
