MGFC20H3- Midterm Exam Guide - Comprehensive Notes for the exam ( 12 pages long!)
Document Summary
Mgfc20 strategy project biometric security system for atms. The financial product our group decided to develop is a biometric security system for atms (biometric banking machines), which will be used by most retail banks. Biometrics identify individuals based on their personal physical characteristics i. e. fingerprints & eyes. The purpose for developing this specific product is to provide a more powerful security system for customers and banks as frauds and hacks are becoming a common threat in this generation. This biometric system for the atms will include iris and fingerprint scans, which are much more secure than pin codes and passwords. Even if someone steals a card and knows the pin code, they would not be able to access the account as the(cid:455) (cid:272)a(cid:374)(cid:374)ot repli(cid:272)ate the ow(cid:374)er"s fi(cid:374)gerpri(cid:374)ts a(cid:374)d e(cid:455)es. The product is relatively feasible as fingerprint security systems have already been popular among other produ(cid:272)ts su(cid:272)h as s(cid:373)artpho(cid:374)es.
