Monday April 16, 5:29 pm Eastern Time
Press Release
SOURCE: International Biometric Group

FSTC, Consortium of Largest US Financial Services Organizations, Sponsors International Biometric Group's Comparative Biometric Testing

CHICAGO--(BUSINESS WIRE)--April 16, 2001--The Financial Services Technology Consortium (FSTC) announced today that it is sponsoring International Biometric Group's upcoming Comparative Biometric Testing. The FSTC, whose membership includes major US banks, technology companies, research institutions, government agencies, and other financial services organizations, has been at the forefront of advanced technology innovation. Coordinating the development and promotion of Internet payment systems, automated check exchanges, and authentication systems, the FSTC effectively leverages its unique position to define and demonstrate interbank solutions which bring forward technologies to promote competition in the financial services industry.

Zachary Tumin, Executive Director of FSTC, welcomed the next round of testing. ``Biometrics are marching toward the marketplace from every direction. It is important to understand the key issues in their implementation and use. International Biometric Group gives FSTC members a great opportunity to participate in this important assessment.''

``In the financial services sector, where interoperability between organizations is essential, the FSTC plays a very important role,'' stated Samir Nanavati, Partner at International Biometric Group. ``The results of the Comparative Biometric Testing will provide such organizations with detailed information on the leading biometric technologies.''

IBG's Comparative Biometric Testing is the de facto industry standard for organizations seeking to assess the market impact of biometric systems:

• How well do biometric technologies perform under real-world conditions with typical users?

• Which technologies are able to enroll the largest percentage of users?

• What percentage of enrolled users are falsely accepted (FAR) and falsely rejected (FRR)?

• How do users respond to using various biometric technologies?

• How well do various technologies and devices address ergonomic and ease-of-use issues?

About the Financial Services Technology Consortium

The Financial Services Technology Consortium (FSTC) is a not-for-profit organization whose goal is to enhance the competitiveness of the United States financial services industry. Members of the consortium include banks, financial services providers, research laboratories, universities, technology companies, and government agencies. FSTC sponsors project-oriented collaborative research and development on interbank technical projects affecting the entire financial services industry. Particular emphasis is placed on payment systems and services, and leveraging new technologies that help banks cement customer relationships, boost operational efficiency, and expand their market reach.

Contact:

Financial Services Technology Consortium
Zachary Tumin, 914/576-7629
zachary.tumin@fstc.org