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When will investment banks fully embrace biometrics?
In the wake of the Jerome Kerviel scandal, biometric technologies shot to the top of the list of trading room security technologies. But few banks have yet to fully embrace the technology. One big bank, Dutch giant ABN Amro, has actually given up on its trials, according to the BBC.
The big issue may be cost. These are not flush times for top banks in North America, Europe and Asia. Then again, security and risk management are said to be top priorities. What's your sense here? I think that the new-age tools got a lot of publicity in the wake of the scandal. But banks may be concluding that the costs of a full roll out may outweigh the benefits; this is especially true if the technology isn't quite there yet.
For more:
- here's the BBC article
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