Heartbeat recognition: The next step in secure banking?

John Hopton for redOrbit.com – @Johnfinitum

It always seemed pointless that a quick squiggle with a pen was supposed to be the key to secure identify recognition, but it might not be long before finger and retina scanning seem laughably inadequate, too. A British bank is looking to unique heartbeat patterns as the next step in banking security.

According to the BBC, the Halifax Bank is trying out a new technology which allows a customer to access a banking app on their smartphone by checking their unique heartbeat pattern via a smart wristband.

Heartbeat signature is measured using an ECG monitor on a computer and then stored on the wristband, which is then paired up with the phone. The banking app finds the wristband using Bluetooth, and whenever you want to do your banking it automatically draws on data from the wristband.

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The BBC’s Simon Gompertz tried out the system, and said that: “The thinking is, from The Halifax, that this is better security than just using your thumbprint, because possibly your thumbprint could be copied whereas this has to come from inside you.”

He added that: “It’s only at the developmental stage at the moment, it’s being tried out, but this could be something to set your heart racing in future when you using your bank account.”

Facial-recognition technology is old news already?

The bracelet, called a “Nymi“, has been developed by Canadian firm Bionym, who claim that the “cardiac signature” will be more secure than other forms of biometic identification such as eye-scanning or facial recognition technologies.

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The band can also apparently communicate with a cash register or an ATM to allow the customer to pay for goods or withdraw money.

“In a world of passwords and pin numbers, the Nymi Band will allow you to wirelessly prove that you are you to the world around you,” Bionym says.

They explain that: “When the Nymi Band authenticates you, it’s looking at the shape of your ECG wave, not your heart rate. It is tolerant to typical variations in heart rate even if you have an irregular ECG as a result of a medical condition. We recommend enhancing your ECG Profile a few times to capture the regular daily variations in your heart beat. This can be done through your Nymi Companion App.”

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According to The Telegraph’s Richard Dyson: “The technology could have countless applications, experts say, including giving workers access to offices or to unlock and start cars. It is also predicted to appeal to governments who could use it to secure border posts, public transport, and other facilities.”

He adds that: “It could also be used to control numerous electronic devices around households from alarm systems to TVs.”

We think it might be old hat in a few weeks, having been replaced by snazzy new soul reading technology.

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Source: http://www.redorbit.com/news/technology/1113351934/heartbeat-recognition-the-next-step-in-secure-banking-031315/