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Digital Identity, Security & Online Fraud

Bytes unveils cloud-based biometric solution for financial service providers

Monday 15 May 2017 | 01:33 PM CET

Bytes Systems Integration has released BioVault, a cloud-based biometric solution developed to enable financial services providers access to biometrics.

BioVault will allow companies to rent devices for capturing biometric information, as well as demographic information, a photograph, a signature and relevant documentation. All of this information is encrypted and stored centrally in Bytes data centres within South Africa's borders. Once an individual is enrolled in the BioVault, the information can be used to facilitate further financial transactions with the same individual because it is securely linked to his or her biometrics.

BioVault will also offer a solution to the problem of misrepresentation, which affects many industry sectors. While banks are now permitted to link identity with biometric information by linking to the Home Affairs National Identification System (HANIS), this option is not available to other members of the financial services sector, such as retailers and telecommunications providers, or companies in other sectors.

Bytes Systems Integration provides technology support to businesses - including network monitoring and biometrics.

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