British Bank Considers Nymi for Customer Authentication

Nymi_black_topBritish bank Halifax is considering the implementation of a cardiac biometric system for customer authentication, according to an article in The Telegraph by Richard Dyson. The technology would theoretically come by way of Canadian company Nymi, as the bank is currently exploring the potential of its Nymi Band biometric wristband.

The idea is to take advantage of individuals’ unique cardiac signatures, which Nymi says are even more secure than other popular biometric technologies such as iris and fingerprint scanning. The article proceeds to speculate that such technology could be used in a range of other applications including accessing cars, securing public transport, and so on, though for now it’s one of the more obscure biometric technologies. That having been said, given the biometric capabilities of new devices like the Apple Watch, it’s conceivable that such applications could take off in the years to come, if smartwatches become as popular as smartphones in mainstream culture.

Right now, though, Halifax is merely in an exploratory phase, with the firm’s director of technology insisting that they “are in the very early stages of exploring potential uses for the Nymi Band and wearable technology more widely.” Other banks are also looking into Nymi for biometric authentication. At last week’s Mobile World Congress, Jeremy Bornstein from the Royal Bank of Canada pointed to the biometric wristband as the future of contactless payment.