Reduce Fraud and Protect Customer Identities

Competech prides itself on the security measures it has created in order to protect confidential client data.  Nowhere is the concern for privacy and protection more prevalent and necessary than in banking.   As part of its security suite, Competech has developed a patent-pending Picture-on-Chip technology.  A physical picture is not only on the face of the card but is encoded into the chip itself.  The picture will appear on a monitor as soon as the card is accessed in a reader. This added layer of security represents a quantum leap in ensuring identity verification.

The card itself has many levels of security built in. 

•        Tamper resistant chips will self-destruct if alteration is attempted.

•        Fingerprint and other biometric information is written right on the card for instant verification of identity.

•        Picture-on-Chip Technology programs faces directly in the chip itself as well as on face of the card.

•        Printed Holograms significantly reduce the risk of illegal duplication.

•        Lost or stolen cards can be instantly de-activated and erased reducing the risk of identity theft and financial loss.

•        Meets all ISO standards

•        Multiple layers of encryption throughout the usage process.

With credit card fraud on the rise, Competech ID Solutions for Banking offers advantages over magnetic stripe cards. Integrated circuitry makes them difficult to tamper with and they have more complex file and data structures. As noted, PINs and photos can be digitized and stored on the card. Competech’s modular architecture allows for the quick addition of extra features like biometric authentication without the need for card reissuance.  With biometric security, the cards become close to impregnable.

Competech’s ID Solutions for Banking helps streamline operational processes by helping to reduce the costs associated with securing and accounting for cash as well as reducing financial float-loss.  Due to the highly secure nature of Competech’s smartcard technology, identity theft and fraudulent transactions will be significantly reduced as well adding money to the bottom line of the banking institution.

Unlike magnetic stripe cards, smartcards can support multiple applications, which allows the delivery of more than one service and eliminates the need for multiple cards. Using Competech’s ID Solutions for Banking proves to be a key differentiator for customers to examine.  Customer service is brought to the next level as Competech clients offer expanded services to their customers from secure web portals to financial information to branded loyalty programmes.

For the convenience of its clients. Competech provides is ID Solutions for Banking in both contact and contactless forms.