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Wells to roll-out eye verification by July

Biometric_eye_iris-623x410Wells Fargo is planning to roll-out biometric security technology for its corporate customers by July. The system authenticates mobile users through their eye prints with software from EyeVerify, a startup the bank has been mentoring in an accelerator program since 2014.  Treasurers, CFOs and other executives authorized to access commercial bank accounts at Wells Fargo will be able to use their iPhone cameras to take a picture of their eyes. The Eyeprint ID software built into bank’s mobile app will then translate the image of veins and other physical markers into digital code, to match with a stored template. Wells Fargo executive vice president and wholesale internet services head Secil Watson said the bank has tested voice and facial recognition technologies but found that each was subject to vagaries in the environment. Background noise at a train station or low lighting and glare could prevent the software from making correct identifications. Eyeprint ID works correctly more often and is more discrete, she said.

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