The Property Pack

How Biometrics is Used to Improve Safe Deposit Box Security

Biometrics is the study of a person's unique physical and behavioural features through measurement and statistical analysis. Simply put, combining biometrics with your safe deposit box increases your protection against identity theft; and if you're seeking for the safest place to store your significant assets, documents, and properties, this should be a major consideration for you. But, when it comes to safe storage facilities, what level of biometric protection is the most effective?

Biometric identification methods come in a variety of shapes and sizes, and they've evolved and improved through time. However, biometrics are not used by all providers of safe deposit boxes and private vaults, and most institutional protocols, including those used by banks, are outdated and high-risk.

Issues with Bank Access Protocols

A bank, for example, usually has a clear system for accessing its safe deposit boxes. It usually starts with the client's personal key, then moves on to the bank's master key, the client's signature, and finally a pin code or password. Banks, on the other hand, frequently refuse admission to the back of the house, where your safe deposit box is kept. Instead, a member of the staff on duty retrieves your requested item from your security box - an unsettling thought considering that a stranger could be handling your belongings at any given time.

While the above may appear to be enough, times have changed, and thieves have become more sophisticated and tech adept, rendering this system outmoded, insecure, and vulnerable to human mistake. Due to identity theft and forged signatures, bank employees may accidentally grant access to the wrong individual. Unauthorized access to safe deposit boxes and illegal, fraudulent activity could result from this possible security breach.

A Cutting-Edge Solution

Biometric systems have been used by a variety of institutions around the world because they focus on identifying people based on their inherent and distinct bodily characteristics.

As a result, biometric technology has traditionally provided a higher level of fraud protection because the modalities used by these systems are non-transferrable, safe from guesses, provide non-repudiation benefits because no two people have the same patterns on their bodies, and are only limited by the system's quality and standard of design.

This means that a company like a safe storage facility can provide you with better customer service and a higher level of security by utilising biometric technology.

Palm vein recognition, fingerprint recognition, iris recognition, and voice authentication are the most common biometric technologies. 3D facial recognition technology is at the pinnacle of all technologies.

Facial Recognition (FR) is a popular biometric option

It was highlighted in a research article produced by two European professors that:

"Authentication processes relying on badges or passwords are far too trivial to compromise. Biometrics are a viable alternative, but they are not without flaws. For example, iris scanning is very accurate but too intrusive; fingerprints are socially acceptable but not applicable to non-consentient people. Face recognition, on the other hand, is a good compromise between what is socially acceptable and what is trustworthy..."

The most recent FR technologies shine light onto you while the camera's sensors track the contours and shape of your face, saving this data as a point of reference for verification. As a result, 3D FR technologies can reach significantly more accuracy than prior 2D and other biometric technologies.

The developments that distinguish the approaches have enabled 3D FR to provide consumers with a more efficient, secure, safe, and customised process, which, when paired with standard security measures such as a PIN number, becomes even more effective. This makes FR not only the most extensive means of verification, but also a very quick, convenient, and secure method of confirming your identity.

Your Storage Facility of Choice Will Be Determined by Biometrics

Many safe deposit boxes offer safe access control, such as Private Vaults Australia (PVA) by combining 3D FR, a pin code, a special access key, a guarded escort, and private viewing rooms in the back of house.

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