An agreement was signed by the Madrid Autonomous University’s Foundation, FUAM, and Cecabank this morning to launch the «e-BioFirm» R&D project, which aims to develop improved biometric algorithms to compare digitised signatures, allowing the latest advances in research to be translated to the real world of business.
The project is aligned with Cecabank’s continuous updating of its technology, and in particular the incorporation of next generation biometric signature recognition technologies in its digitised signature processing systems (SFD in its Spanish initials), which with over six years’ experience and having handled more than 500 million signed documents, is the pioneering system in Spain in the implementation of real biometric solutions.
This project draws on the vast expertise of the Biometric recognition group (AVTS) in this technology. The project will be led by professor Javier Ortega García, from Madrid Autonomous University’s Higher Polytechnic School, and will include the technology-based company Innoware, which will take charge of various biometric data design, capture and management tasks.
Specifically, the e-BioFirma project represents the evolution and improvement of biometric signature recognition systems, for which two solutions will be developed:
- An advanced system that will allow information to be produced on the similarity between biometric signatures captured with digitising tablets, the use of which is geared towards obtaining forensic information for use by the police.
- An innovative recognition application that will allow comparison of biometric signatures in real time at bank branches.
SFD is the outcome of a collaborative project that arose in 2008 from a delegate committee of the CECA (Spanish Confederation of Savings Banks) comprising specialists in financial sector organisation, systems and processes. The SFD’s aim is to eliminate the use of paper, replacing handwritten signatures on paper documents by electronic documents, thus achieving significant cost savings and, in particular, simplifying processing. Technology plays a key role in this project as it facilitates automation of the process of biometric comparison of handwritten signatures, with the consequent advantages and savings in terms of the work of bank branches. It also allows its use in a legal and forensic context if necessary.
The project now being launched is the start of a long-term collaboration between the UAM and Cecabank, which will allow the latest advances in technology to be continuously built into the financial institutions’ customer relationship processes.
ABOUT CECABANK
Cecabank is a wholesale bank that provides financial and support services for the banking business via a model that is open to the whole market. Its activity is focused on three strategic business areas: treasury management, securities services, and banking services. It has a high level of solvency and solid technology infrastructure.
For more information, see www.cecabank-new.quelinka.es
ABOUT THE FUNDACIÓN DE LA UNIVERSIDAD AUTÓNOMA DE MADRID
The Fundación de la Universidad Autónoma de Madrid (FUAM) is a non-profit institution whose basic mission is to act as a bridge between the Madrid Autonomous University (UAM) and society. Its primary objective is to promote knowledge transfer from the university to society at large through teaching and research, fostering study, the dissemination of culture, and support to the university community, and to help inculcate the values of solidarity, tolerance, coexistence, liberty and justice.
