Biometrics Technology Analysis And Trends In Suncorp Bank Essay.

In this professional business report, you must at least cover the following points adequately Identify and provide a brief background on the organisation. Provide the context of the industry in which the organisation operates outlining key trends (issues) affecting the organisation (internal and external drivers).(two pages maximum) Technology analysis and trends in the context of “Biometrics” in the in the industry mentioned above. (two pages maximum).Identify how “Biometrics” can solve some of the issues identified above (problem statement) and outline the anticipated benefits of “Biometrics”.(two pages maximum).

Develop a business model canvas in the context of “Biometrics” in the selected organisation in the industry to determine the feasibility and viability of introducing “Biometrics” into the organisation. (one page maximum).
Identify the different beneficiaries of “Biometrics” within the organisation (customers).Identify the different customer segments using a Customer Value Proposition Canvas (maximum 3) to “Biometrics” will be valuable.(two pages maximum) Develop a before and after customer journey to outline the impact of “Biometrics” on the different customer segments. (two pages maximum)

Overview of the Suncorp Bank

Technology advances have been emerging in all of the sectors worldwide.  Financial sector has been facing a lot of issues in the market related to security of data and information. This report has focused on the Suncorp Bank in Australia. Issues and challenges found in this bank have been identified in the report. The use of biometrics have been discussed in the report. The security trends of biometrics have been explained in the report.

Overview of the Suncorp Bank

This bank has been helping in providing general insurance, life insurance, general banking facilities and wealth management services in Australia and New Zealand. This bank was founded in 1902 in Brisbane. The bank has been employing around 13500 employees and serving around nine million customers in Australia and New Zealand (Suncorp.com.au 2018). The purpose of the bank is to provide a better present for the stakeholder including customers, people, shareholders and communities. The bank has been focusing in the present of their customers so that they can make a better future. The Company has been working in the financial sector of Australia. The financial sector of Australia has been facing some challenges in the market.

Issues in the Suncorp bank 

There have been increase in the competition among banks of Australia. The increase in the competition has been an issue in the financial sector of Australia.  There has been increase in the security issues in the banks. According to financial survey 2016, there has been 16% growth in security breaches in Australian financial sector (Gatali et al. 2016). Therefore, there is a need of technological solution in the banks. The security breaches among banks have been increased in Australia.

Technology analysis of Biometrics

As commented by Singh and Kaur (2016), biometrics has been a technology that helps in identifying, measuring and analysing individual’s physical and behavioural characteristics. Each human being has different characteristics that make them different from each other. These physical attributes include Finger prints, colour of iris, hand geometry, colour of hair, signatures and other behavioural characteristics.

A biometric system has been based on the biometric property of human being. It is a technology that uses physiological, behavioural properties of human being for securing various system from malicious attacks (Buriro, Gupta and Crispo 2017). Biometrics have been a new technology in the IT field. This technology has been an emerging in the market.  Therefore, most of the companies are reliable to use this technology in their operations to secure their data systems. There have been different types of biometric including Facial recognition, fingerprint, and hand geometry, iris and voice recognition.

Fingerprint recognition: This has been maximum used biometric authentication. This technology has been using unique features from finger print. There are various benefits and limitations of fingerprint biometric authentication system (Sabharwal 2016). One of the advantage of fingerprint is of having a huge history for utilize. Fingerprints can be used for automation and authentication tool as compared to cyber biometric techniques.

The manual fingerprinting have been different for each individual therefore, it has been the safest and cheapest form of biometric techniques. Along with this, there are some disadvantage of fingerprint including challenges with public perceptions related to its utilization of touching sensors as germs might get spread and also scanned image might produce other criminal investigations (Lupu, G?itan and Lupu 2015). However, researches have been done as individuals grow older, their fingerprint rejection get higher over sensor.

Issues in the Suncorp bank

Face recognition: Humans have been using facial recognition for their identification in daily life for many years. There have been two categories of face recognition including face appearance and face geometry. The facial appearance method has been called as Eigen face method as gathers number of face images and form 2D grey-scale image that create biometric template (Buriro, Gupta and Crispo 2017). Facial geometry collects information about geometry of face that do not change over time including distances between eyes, length and width of face. However, there might be poor lightening and quality of image and camera quality. Therefore, these are disadvantages of face recognition.

Iris Recognition: Iris recognition has been using pattern of iris, which has been unique identifier. The coloration of iris has been found as genetic, pattern of iris results from development process of eye during prenatal growth stage. However, a high resolution camera has been required for sensor for taking quality images of the iris (Normalini and Ramayah 2015). The advantage is that there is no physical contact with the sensor. However, limitations are that use of noises including eyelids, eyelashes and contact lenses might create changes in the iris of the eye.  

Hand geometry: Hand geometry has been helping in analysing geometrical structure of human hand. An individual has to place the hand over a guided sensor plate in which system used to measure width, length and thickness (Buriro, Gupta and Crispo 2017). The enrolment template has been created in which three silhouette images have been captured, analysed and measured. However, it is less intrusive process than iris recognition method (Waggett 2016). Therefore, it has been less accurate than all of the biometric techniques. The technology has been providing false acceptance and rejection rate. This technology has not been suitable for identification method. This has not been used as verification method as an additional level of security.

Voice Recognition: Voice recognition has been also known as Speaker Recognition, which uses individual’s voice characteristics for recognition process (Varma and Gupta 2017). It has been analysed that technology might not be confused with speech recognition that recognizes words that are spoken regardless for speaking them.  

Trends in Biometrics

There have been increase in the security breach and data loss. However, there have been several cases of password mismatches and breaches reported. Therefore, replacing password with biometrics verification has been helping in enhancing the verification process. A new version of 3D secure standard has been working in various operations of the bank. Therefore, biometrics have been an important role in securing authenticity of users and securing data system and unauthorized breach into systems (Jonte’Campbell et al. 2015).

The Suncorp Bank has been facing security breach issues in their banks.  Therefore, biometrics might play a big role in securing their systems. However, recent events have given rise to its importance in the business organizations. There has been an increase in level of security for an account of individual with the use of biometric system. Biometric involves use of behavioural and physiological attributes for validating authorization of an individual.  This has been an important in the field of security of a system.

Technology analysis of Biometrics

Solutions to above identified issues

Another focal point of research in biometrics includes advantages of biometric innovation as strategy for security control. Blanco-Gonzalo et al.  (2018) focuses the advantages of biometric innovation over the utilization of individual recognizable proof numbers (PINs), cards or tokens for access to anchor frameworks. They call attention to that with PINs, cards, and tokens a person is recognized as being able to get to data, though biometrics distinguishes the real individual asking for the entrance to the data.

The motivation behind their investigation is to give data to associations on the additional security advantages of biometric innovation also, the requirement for more grounded data confirmation. This was cultivated by breaking down a set of upsides and downsides for biometric innovation and additionally six factors that would influence the reception of biometrics. The six variables incorporate efficient, administrative, operational, innovative, process-related, and legislative and guidelines related components. In the examination of this investigation, biometric innovation offers a dimension of security that cannot contrast with conventional passwords (Zaman, Bhat and Rana 2016).

The scientists clarify that biometrics provide various dimensions of security edges for how explicit person's entrance ask for layout of biometric put away in database, and any worries within biometric security has been cured with appropriate instruction and mindfulness. The researchers recognize the requirement for more security in private keys because of expansion in electronic business and data that is being put away on brilliant cards. The outcome is an improved security component for powerfully recovering private keys with the utilization of a person's unique mark, secret word also, keen card. As research is performed on the security advantages of biometric innovation, there is proportional research on the security worries that encompass it.

As argued by Philip and Bharadi (2016), the reason for the investigation is clarify rules that must be trailed with biometric frameworks in consistence with current enactment, and to propose strategy for anchoring protection of a person's data put away in a biometric database. This was practiced by looking at standards of direction and proportionality of biometric frameworks with recent lawful commitments.

The analysts inferred that all together for biometric information are kept privacy and pursue current enactment manages, accompanying must happen: 1) biometric ID information should just be utilized for the reason that it was initially gathered, 2) the information would be less available to others for further preparing if it somehow managed to be put away in a gadget claimed by the information subject, the information controllers  taught on privileges of information subjects and to know about the procedures accessible that keep a re-distinguishing proof issue. Sabharwal (2016) commented that depicting vulnerabilities in biometric framework and how to conceivably avert them with methods that, whenever actualized, would diminish the risk of data robbery.

Benefits of biometrics

The outcome has been that while actualizing a biometric framework into an association, the specialists have distinguished a couple of critical components to consider: condition that  biometric scanner will be set in, nature of picture collected, and choice of gadget utilized in securing biometric component from a person. Shin and Chun (2015) clarify how utilization of biometric innovation has provided in industry to impede copy enlistments and extortion found in the Suncorp Bank. Chan (2016) found in their exploration that the biometric innovation utilized must be worthy to the client, exact, impervious to extortion, and snappy.

Fingerprint Recognition

Strategy choices are additionally crucial to deflecting extortion since misrepresentation endeavours happen most every now and again at the purpose of enlistment. Patel, Meng and Díaz Cabrera (2017) examined the test associations confront when choosing if usage of biometric framework would be advantageous. The scientists recognize a methodology for choice developing process by giving peruse well-ordered strategy in building up business case explicitly for usage of biometric innovation framework. Plateaux et al. (2014) give a comparative article to those associations considering the usage of a biometric verification framework by depicting difficulties, imperatives and constraints of biometric innovation that each association should audit while assessing this kind of innovation.

Business Model

A model for biometric verification was adjusted from past report in Suncorp Bank by Buriro, Gupta and Crispo (2017). Utilizing the three variables of outer weight, status and saw benefits, and the model measures dimension of commitment that these variables make to selection of biometric verification in credit association budgetary administrations. This figure exhibits each sub-factor and how everyone adds to relating fundamental factor. This thus uses the primary elements to disclose the goal to receive.

Key Partners Suncorp Bank	Key Activities Financial services Loan Personal Account Locker system	Value Proposition Advanced locker system High Accuracy in account Effective for providing security to financial account Biometric implementation Fingerprint recognition		Customer Relationships Websites Direct presentations Door-to-door banking services Online banking services ATM cards	Customer Segments   First-time visitors Current customers Customer using services
	Key Resources Investors Brand value Copyrights Patents Customer databases Employees Partnerships			Channels   Websites Facebook Newspapers Advertisements
Cost Structure   Programmers- $400 Biometric hardware- $250 Transportation- $125 Marketing Cost- $200 Others- $150			Revenue Streams   Customer Deposits Interest on loans Interest on Investments Fees Income Commission on third party products

The above model describes about the implementation of biometrics in the Suncorp Bank. This model describes about various components of the bank in the market. The feasibility of the model has been based upon the readiness of the customers to adopt biometrics in the bank.  The Bank have to maintain a keen approach in the implementation of biometrics. All the external and internal factors compromising in the model has been connected with the security issues faced by the bank due to unavailability of biometrics in the Bank.  The use of the biometrics have been helping in preventing several security issues in the Bank.  The customers have been depended in the services of the bank in the market. Therefore, biometrics have been helping in perceiving several security benefits in the market.

Beneficiaries of biometrics within organization

There have been various benefits to the Suncorp Bank after the implementation of Biometrics. Card payments have been an important mode of payment in the e-commerce industry. Most of the customers are prevailing this technology for cashless and digital transaction. Therefore, security in the card transaction has been an important issue in the market. The authorization of the card user used to be done by using password (Lai 2018). However, there have been several cases of password mismatches and breaches reported.

Therefore, replacing password with biometrics verification has been helping in enhancing the verification process. A new version of 3D secure standard has been working in various operations of the bank (Varma and Gupta 2017). Remote payment system has been enabled with biometric verification over the internet in the Suncorp bank. The Customer value proposition model has been provided below that help in analyzing the impact of biometric on customers.

The customers used to pay their bills using bank account and card payment. Therefore, the use of the biometric might help in verifying card users.  The use of biometric has been helping in verifying different card systems and online net banking of the Bank. Biometric has been helping in maintaining a secured approach to online transaction in the Bank (Zaman, Bhat and Rana 2016). Customers have been feeling safe in their online transaction for purchasing various items over online. The customers have been gaining real time analytics report of their transaction details.

Customer segments	Before Biometrics	After Biometrics
First-time visitors	Customers used to feel unsafe in using banking services	Customers are much happier in using banking services
Current customers	Existing customers have been experiencing security breach in their bank account.	Customers have their own biometric verification policies that helps in identifying and verifying authenticate users to login into their bank account.
Customer using services	Customers are not happy with services provided by bank due to security issues.	Customers are happy with services due to implementation of biometrics in the bank.

Face Recognition

Table 1: Before and after customer journey on different customer segments

Recommendation

Implementation of Biometrics in the Suncorp Bank might be a successful strategic decisions made by the top management level of the Bank. However, there are some recommendation that might deliver enhanced services to the customers of the bank.

Open Standard: Biometric authentication system need to be based in open standard that helps in ensuring all systems meet same requirements. Standards have been based on various business needs. An emerging technology in biometric might be suitable for meeting business needs.

Privacy by design: Compatibility with privacy laws might be achieved by technical measures. Privacy concerns need to be included in the design stage that helps in integrating technical measures for mitigating privacy risks.

Certification scheme: Certification helps in ensuring that the standard has been correctly integrated in the Bank systems. Certification helps in providing external security advantages including transparency in the schemes and services of the Bank. It helps in implementing various privacy laws including data Protection law with biometric systems.

Conclusion

It can be concluded that the use of biometrics in Suncorp Bank has been a successful strategic planning decision. It has been helping in mitigating various security issues in the bank related to online transaction and ATM cards. The Bank has been facing issues in their online transaction as many security breaches report have been identified in the Bank.  Facial geometry collects information about geometry of face that do not modify over time including distances between eyes, length and width of face.

However, there might be poor lightening and quality of image and camera quality. Therefore, the bank has decided to implement biometrics in the operation system of the Bank. Therefore, the security issues have been mitigated in the Bank. A business model canvas has been provided for the implementation of the biometrics in the Bank. A customer value proposition canvas has been provided that helps in understanding before and after benefits of the customers.

References

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Suncorp.com.au (2018), Suncorp.com.au/about-us.