Hitachi's Finger Vein Biometric Authentication Technology Wins "Breakthrough Innovation of the Year"

Strategic Insights -

Hitachi Ltd.'s deployment of finger vein biometric authentication technology, powered by the StepNexus MULTI-Smart card platform, has been recognized as the "Breakthrough Innovation of the Year" at the 2006 Card Technology Magazine awards. This technology relies on a unique pattern of veins in a finger, providing enhanced security and fraud detection without physically touching a scanner. The system, adopted by several Japanese banks, has issued over 50 million smart cards in more than 30 countries, making it a significant innovation in the smart card industry.

Key Takeaways:

  • Hitachi's finger vein biometric authentication technology uses the unique pattern of veins in a finger to verify identity, increasing security and fraud detection.
  • The technology is powered by the StepNexus MULTI-Smart card platform, which supports multiple applications, including EMV payment and finger vein authentication.
  • Hitachi has deployed the technology in eight Japanese banks, including Kyoto bank, Joyo bank, and Fukuoka Bank.
  • Over 50 million MULTI-Smart cards have been issued in more than 30 countries, demonstrating the technology's global reach.
  • The MULTI-Smart card platform allows card issuers and application providers to share space on a single chip, enabling a range of applications.
  • The technology has been recognized as a significant innovation in the smart card industry, with the award bestowed annually by Card Technology Magazine.
  • StepNexus, the company behind the MULTI-Smart card platform, is a joint venture between Oak Hill Venture Partners, Keycorp, Hitachi, and MasterCard International.
  • The company acquired all intellectual property and operations for MULTI-S, the world's highest security, open standard smart card platform.
  • StepNexus' secure packets content delivery mechanism enables device issuers to permit third-party content providers to deliver additional services while maintaining security.

Sources:

  • Card Technology Magazine, "Breakthrough Innovation of the Year" award
  • Hitachi Ltd., press release
  • StepNexus, press release
  • MULTOS: The Platform for Government and Financial Services
  • About Hitachi: http://www.hitachi.com
  • About StepNexus: http://www.stepnexus.com