Quick and Secure Verification of Accountholder Data at the Teller

Open Solutions' Veri-Fast module is used at a financial institution's teller station as a quick and secure way to identify a cardholder by automatically presenting a customer's/member's personal data. Cardholders swipe their ATM/Debit card (issued by the institution) and enter their PIN for two-factor authentication. The software interfaces with a host security module (HSM) to verify that the PIN entered is valid, and then instantly retrieves the customer's/member's Relationship Profile and displays it to the teller. This is easier and more efficient than existing processes that require tellers to manually search for a customer's/member's profile. This is all accomplished without the customer/member needing to state their name, account number or other personal information.

The Veri-Fast solution can be implemented by financial institutions worldwide that run Open Solutions' DNA for Banks and DNA for Credit Unions core applications (versions DNA 2.1 and higher). Veri-Fast can also be customized to integrate with other core platforms on-demand.

Veri-Fast provides a strong return on investment for banks and credit unions worldwide. The average Veri-Fast investment pays for itself in two years.

Benefits

• Seamless integration with DNA
• Improves customer/member service and efficiencies at the branch.
• Reduces fraud risk by authenticating cardholders at the teller.
• Easy to install and use.
• Eliminates keystrokes by the teller.
• Encourages card usage.

Features

• Two-factor authentication with the ATM/Debit card and PIN. The addition of a driver's license (an optional third factor of authentication with the individual's picture), provides another secure and fast method to identify the cardholder.
• Standard payment cryptographic functions protect customer/member sensitive data.
• Reduces fraud risk by authenticating cardholders at the teller.
• Integrates with Open Solutions' DNA core applications (versions DNA 2.1 and higher), allowing for a seamless installation and proven capability.
• Integrates with other core platforms on-demand.

Click here to request a copy of the Veri-Fast Positioning Paper.