ISO 19092:2008 (Financial Services, Biometrics, etc.)

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February 2008

By Ian Hannah
SQMC Director of Programmes

According to their website, ISO has just published a standard to increase the security of financial transactions over electronic media. The new standard, ISO 19092:2008, Financial services – Biometrics – Security framework, establishes the security requirements for the implementation and management of state-of-the-art biometric identification technology within the financial industry.

The development of computer-based technologies has brought about a revolution resulting in a proliferation of electronic transactions. This has produced a phenomenal reduction in costs and improved efficiency within the financial industry. Trillions of dollars in funds and securities are transferred daily on payment and other financial systems through telephone, wire services and other electronic communication mechanisms.

According to ISO 19092:2008, the sheer volume and value of such transactions exposes the financial community and its customers to severe risks from accidental or deliberate alteration, substitution or destruction of data. There is therefore a strong need for an ironclad authentication method.

Do you agree? If you would like to discuss the possibility of SQMC running an in-house course on ISO19092 for your organisation please contact us. We would like to hear from you.