Reduce the risk of fraud while enhancing service delivery with Verifast™, a powerful authentication solution from Fiserv. Verifast provides an efficient and accurate method for consumer authentication at the teller line.
Consumer authentication in the branch can be a manual and inefficient process, exposing security risks and detracting from the customer experience. Verifast helps financial institutions mitigate fraud, reduce transaction times and make banking transactions more convenient for accountholders.
With Verifast, authentication is unobtrusive and reduces risk by presenting consumer account 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.
Verifast: Palm Authentication
Verifast: Palm Authentication uses the latest biometric technology to verify an accountholder's identity. Customers or members can be authenticated by waving their palm over an infrared sensing device which detects the consumer's unique palm vein pattern and matches it to an encrypted digital signature. Using the palm vein biometric pattern offers superior security, accuracy and consumer acceptance:
- Security – Veins are "hidden" under the skin, making forgery virtually impossible
- Accuracy – Palm vein patterns are complex, with more than five million reference points
- Acceptance – It's hygienic, easy and intuitive
Verifast: Palm Authentication also enhances a financial institution's efficiency by reducing keystrokes, eliminating search screens and inaccurate selections, minimizing errors and speeding transactions. The solution allows tellers to spend more interacting with customers or members and less time examining forms of identification.
Palm vein authentication provides enhanced speed and efficiency at the teller line. The consumer is authenticated instantly and the application immediately opens the person's relationship profile in the core account processing application. Institutions that use this technology have decreased transaction time by more than 15 seconds. Accountholder convenience is another benefit – their palm is the only identification they need to make transactions in the branch.
- Superior Security: Palm vein scanning is a highly reliable method of identification. Palm vein patterns are complex and remain stable throughout a person's life. Forgery is virtually impossible
- Reliable Authentication: Verifast authenticates the customer or member to the account processing platform – before the financial transaction gets underway
- Reduced Transaction Time: Palm Authentication makes access of accountholder data discreet, easy and efficient by eliminating the need to exchange sensitive ID information at the counter and reducing keystrokes and input errors
- Improved Service and Satisfaction: Because Verifast speeds transactions, accountholders will experience faster, high-touch service while your staff will have more opportunities to cross-sell valuable offers. Optional features enable financial institutions to present customized surveys, cross-sale offers and dynamic messages on the screen of the Verifast authentication device
- Verifast: Electronic Receipts: Extends the convenience of signature capture and receipt capture to the Verifast tablet device, placing it accountholders' fingertips and enabling consumers to receive receipts based on their preference
- Verifast: Mobile Authentication: Enables accountholders to use their mobile devices for authentication by scanning a code presented on the Verifast tablet
- 2016 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 customer 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