[Hsinchu] The world's first financial smart cards with fingerprint identification function have officially unveiled. Combined with Taiwan ELAN Microelectronic Corporation’s strength in chip design, Jinco Universal’s competence in manufacturing smart card, and KSID (Korea Smart ID)’s energy in system integration, to jointly introduce the South Korea Woori Bank’s brand-new fingerprint financial card. This transnational cooperation creates a new era of global financial technology (FinTech).
According to ABI Research, the market penetration rate of smart cards with fingerprint identification is expected to increase quickly from 2% (100 million pieces) to 10% (500 million pieces) from 2017 to 2019, and the future growth trend is established. In response to the market trend, ELAN fully develops and expands a forward -looking smart card market.
In the financial level of high specification applications, ELAN’s fingerprint sensors have achieved compliance with contact smart card ISO 7816 (for ATM and natural person certificate ...) and contactless smart card ISO14443 (credit card, travel card and access card reader…) specifications, which can achieve ultra-thin 0.8mm standard. Moreover, ELAN fingerprint sensors with ultra-high inductance have passed bend & twist test, electrostatic discharge (ESD) and the reliability test specifications. It’s power-saving function can be used 280 times continuously in just one charge.
Combining Jinco Universal’s peerless global ISO card cold lamination technology and KSID (Korea Smart ID)’s FinTech system integration technology for the banking and government procurement, ELAN’s fingerprint sensor solution in financial smart card has already obtained KISA (Korea internet security agency) reliability certification, KFTC (Korea Financial telecommunication and clearings institute) financial IC security certification, and KTC (Korea testing certification) card hardware stability certification.
ELAN’s fingerprint identification solutions can be used in the battery and no battery smart card, and apply to all ATM machines, other financial, payment, medical, transportation, automotive…etc. applications. ELAN will continue to lead the world in the fingerprint identification market.
According to understanding that credit card fraud rate is up to 3% each year, the loss is really astonishing, far more than your imagination. Traditional password or key for a user is not only easily forgotten but also has the risk of theft. However, the smart card with fingerprint identification is very convenient for a user to confirm identity and prevent unauthorized transactions. Jinco Universal will use this technology to develop multi-card (Visa, Master, American Express ...) in one smart card with fingerprint identification application.
In the meantime, global terrorist attacks are frequent, thus international governments enhance the importance of personal safety. The smart card with fingerprint identification technology developed by ELAN, together with Jinco Universal and KSID, has successfully applied to anti-terrorism. For example, Taxis in Istanbul, Turkey have already used this solution to effectively achieve the anti-terrorism safety factor. In the future, more international government agencies will adopt the smart cards with fingerprint identification solutions to replace traditional identification cards for achieving anti-terrorism effect. Meanwhile, this solution can be applied in national identity card with multi-card in one function (natural person certificate, driver's license, health insurance card ...) in the future.
In line with the Big Data trend of development, using the smart card with fingerprint identification, can track the identity of the use of card holders, analyze consumer behavior (such as where transections are made and what places are accessed), and further effectively prevent and control terrorist attacks.
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