Verifast

Reduce fraud, enhance service delivery and increase productivity with VerifastTM from Fiserv, the award-winning biometric solution that provides efficient and accurate authentication for consumers and employees.

Implementing measures to combat fraud and security without hampering your accountholder or employee experience is a tricky balance. Verifast is a platform that uses the latest biometric technology to help keep you secure physically, digitally and financially.


Overview

A highly reliable means of personal identification, Verifast uses biometric technology to scan the vein pattern of the palm. Vein pattern vascular recognition technology has become a more accurate identifier than fingerprints, iris patterns or facial features – proving a private and secure way to identify a person. 

Superior Security

Palm vein patterns are stable throughout life and are not affected by external factors such as glasses, contact lenses, cuts/abrasions, dry skin or lotions. Veins are hidden under the skin and detection requires blood flowing through the veins, making forgery virtually impossible. 

Superior Accuracy

Palm vein scanning is a highly reliable method of identification. Palm vein patterns are complex, with greater than five million reference points providing reliable identification.

Superior Convenience

Palm authentication provides highly precise and secure biometric recognition. Consumer acceptance is high since palm authentication is hygienic, intuitive and easy.

Key Benefits

•     Reduces the risk of fraud using advanced biometric authentication technology

•     Delivers strong ROI through efficiency gains

•     Identifies people more reliably than other biometric methods

•     Increased security through advanced biometric technology

•     A simple, convenient and responsive user experience


We wanted to be first to market with biometric authentication to allow us to have a competitive advantage over our competition. Verifast Branch provides us with the most secure authentication technology in the industry to keep our members information secure while also providing increased member service.

- Andy Joneson, Vice President, Information Technology Members Cooperative Credit Union

     

 


Merck Sharp & Dohme Federal Credit Union Goes Big with Biometrics

Merck Sharp & Dohme Federal Credit Union is enhancing convenience and security for members and staff with palm vein biometric technology from Fiserv. The credit union is utilizing a suite of Verifast authentication solutions and is among the first financial institutions in the country to adopt biometric technology for branch authentication, location management and single sign-on.


Flowers


 

Lead Your Branch Transformation

Prevent fraud, reduce transaction times and improve the branch experience

Verifast Branch helps you minimize fraud while completing transactions quickly and improving the branch experience. Verifast reduces fraud risk by unobtrusively authenticating customers or members during in-person interactions at the teller line.

A highly reliable means of personal identification, Verifast Branch uses biometric technology to scan the vein pattern of the palm. Authentication is unobtrusive and reduces fraud risk by presenting information to tellers and service representatives – quickly, consistently and accurately – before the financial transaction gets underway. This enables tellers to easily spot fraud while efficiently fulfilling requests and completing transactions.

  • Reduce transaction times - Verifast Branch makes accessing authentication data easy and efficient, eliminating the exchange of IDs, reducing keystrokes, eliminating search screens and inaccurate selections, minimizing errors and speeding transactions
  • Provide superior security - Palm vein patterns are complex with greater than five million reference points providing superior accuracy. Consumer acceptance is high since palm authentication is hygienic, intuitive and easy
  • Improve service and satisfaction – Verifast Branch technology speeds transactions, accountholders will experience faster service while your staff will have more opportunities to develop the banking relationship and cross-sell valuable offers

Increase Employee Efficiencies

Focus on interacting with accountholders rather than managing passwords

Alleviate the hassles of password management and memorizing complex credentials. This biometric technology allows financial institution personnel to seamlessly authenticate into any workstation and daily applications by simply scanning the palm of their hand.

Verifast SSO leverages more than five million touchpoints unique to the vascular system beneath the individual's palm. Unlike other biometric methods, palm vein patterns are not affected by external factors such as glasses, scratches, cuts, dry skin, lotion or abrasions. Authentication has never been more secure and employee efficiency and satisfaction are immediately heightened due to alleviating password-related issues. This is a solution your employees will appreciate and your IT staff will praise. Now your palm is your password!

  • Eliminate hassles – Reduce password resets for employees across the enterprise
  • Increase security - Utilize advanced biometric technology
  • Improve employee efficiencies - Free up employees to focus on interacting with accountholders rather than technology
  • Provide better accountholder experiences - Identify users more reliably and quickly

 

 

          


Improve Facility Safety and Security

Control facility access using secure and reliable biometrics

Replace your existing entry method with the security and efficiency of palm vein biometrics. Verifast Access offers a highly secure, reliable and easy-to-use way to control and monitor physical access to business premises or sensitive areas.

As concern about the security of business facilities and employees has grown, biometric authentication has been proven superior to other methods of identification. Access cards and fobs can be lost, stolen and shared, while personal identification numbers (PINs) can be compromised.

  • Increase convenience - An employee's identity can be verified instantaneously with the highest available accuracy
  • Provide superior security - Palm vein patterns are stable throughout life and are not affected by external factors, making forgery virtually impossible
  • Experience flexible deployment - Verifast Access is a scalable solution that is interoperable with other systems you may use

Elevate Accountholder Experiences

Instantaneous authentication to self-service kiosks

Implementing measures to combat fraud without infringing on convenience is a delicate balance. Verifast Kiosk enables palm vein biometrics to mitigate fraud and provide instant authentication for self-service kiosk transactions. 

As financial institutions transform their retail environments with self-service features, Verifast Kiosk is unparalleled for its ease of use and convenience. Freeing your accountholder from having to insert their card and remembering yet another PIN, they can now just scan their palm at the Interactive Branch Kiosk (IBK) to securely connect to their financial accounts.

  • Reduce transaction times - Instant authentication at a kiosk without a card or PIN
  • Provide superior security - Palm vein patterns are complex with more than five million reference points, providing superior accuracy and making forgery virtually impossible
  • Improve service and satisfaction - More secure and convenient self-service access to accounts
     

 

 


Verifast Awards

  • 2019 Excellence in Technology Award for “Going Big on Biometrics”: To Merck Sharp & Dohme Federal Credit Union for utilizing a suite of Verifast authentication solutions from Fiserv.
  • Fintech Breakthrough Award 20182018 Fintech Breakthrough Award for "Banking Innovation – Consumer Banking": To Fiserv for Verifast: Palm Authentication solution
  • 2017 Retail Banker International "Security Innovation of the Year" Award: To Fiserv and Gesa Credit Union for Verifast: Palm Authentication
  • Retail Banker International Award2017 Credit Union Journal "Best Practice" Award: To Fiserv and Gesa Credit Union for Verifast: Palm Authentication
  • 2017 CUNA "Excellence in Technology" Award:To Hughes Federal Credit Union for its implementation of Verifast biometric authentication to build an efficient team and create better member experiences
  • TAG FinTech Advance Awards - Verifast2017 Technology Association of Georgia TAG Advance award: Based on the pioneering use of Verifast Palm Authentication in the branch, Fiserv was recognized as one of the most innovative U.S. FinTech companies with ties to Georgia
  • 2016 IDC FinTech Real Results Award for Customer Engagement2016 IDC FinTech Real Results award for Customer Engagement: Fiserv was recognized for implementing its innovative Verifast Palm Authentication solution to improve security, reduce authentication times and enhance the consumer experience
  • 2016 CUNA Excellence in Technology Award: Presented to Gesa Credit Union for their beta implementation of Verifast Palm Authentication, becoming the first  U.S. financial institution to authenticate consumers using palm-vein scanning technology
  • 2016 Credit Union Journal Best Practice Award: To Gesa Credit Union for speeding up in-branch authentication by 93% using Verifast Palm Authentication

Find Out How to Increase Security and Improve Efficiencies Using Palm Authentication Technology

Implementing measures to combat fraud and security without hampering your accountholder or employee experience is a tricky balance. Verifast uses the latest biometric technology to help keep you secure physically, digitally and financially. Start your branch transformation today. 

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