The study suggests that as fears increase, customers want banks to use technology to ensure services offered are secure. One in three UK citizens would like banks to introduce biometric security to help combat card fraud.
Advanced technologies are already being used to reduce card fraud in Japan where biometric ATMs are being trialed. One such ATM works using a proprietary Fujitsu algorithm, which creates a pattern of the blood vessels in your palm. This is compiled using an infrared scan and checked against patterns stored in the system or on your card. Palm vein patterns are hard to fake or copy as they lie under the skin, and can also be read without contact, solving the hygiene concerns many people have about fingerprint readers.
The research also found that 29% of people are put off using online banking services due to security worries.
UK banks need to draw on the experience of other financial institutions around the world if card fraud in the UK is to be reduced. Biometric security can be used to build customer confidence and to reduce PIN theft, commented Ann Hosford, business development manager at Fujitsu Services.
