Caitlin Fitzsimmons reports on the application of iris scan biometric technology to ATM authentication.
VeriSign managing director Gregg Rowley says the security of the personal identification number (PIN) is also questionable. He says banks will move to smart cards over the next few years and biometrics will be the next step after that.
“Biometrics – such as a fingerprint scan or iris or retina scan – will replace the PIN,” Rowley says. “Most insecure is a magnetic stripe with a PIN, more secure is a smart card with a PIN and even more secure is a smart card with biometrics.”
Rowley says the iris scan is the best option because people will not want a laser beamed into their eyes for the retina scan, while a fingerprint reader will wear out and become dirty.