Cedar Point Federal Credit Union is soon introducing an exciting, new piece of technology to its members. Starting on December 14th, an innovative biometric palm scanner called MyPalm will be available for members to use at all five branches. Cedar Point is the first financial institution in Maryland to offer this technology to its members, which will increase security, efficiency, and speed of transactions.
The technology in MyPalm is developed by Fiserv, a leading global provider of technology solutions for financial institutions. It works seamlessly with Cedar Point’s new Fujitsu tablets, which are already at every teller window and service desk. Cedar Point employees have been using the palm scanners since January 2019, which helps them save time and avoid security risks throughout the day. Employees are looking forward to the transition because it means members will be authenticated more quickly, securely, and accurately. “Traditional forms of authentication, like presenting a government-issued ID, can be inefficient and add to wait times,” said Charles Roach, President and CEO of Cedar Point. “With MyPalm, our members will no longer have to show their driver’s license because their ID is literally in the palm of their hand.”
With MyPalm, a member simply hovers a palm over an infrared sensing device that detects each person’s unique palm vein pattern and matches it to an encrypted digital signature. Palm vein authentication is a highly reliable method of identification because palm-vein patterns are unique for each person and remain stable throughout a person’s life. Palm vein patterns have more than five million reference points, making forgery virtually impossible. In addition, scanning the palm takes only a few seconds and can drastically cut down on transaction times.
“The palm scanners will allow our tellers to spend less time on verifying members’ identities and more time on member experience,” said Roach. “Part of our mission at Cedar Point is to create meaningful experiences with our members. MyPalm will help us do that more efficiently.”
Members will be able to enroll in MyPalm beginning on December 14th at any of Cedar Point’s five branches in St. Mary’s and Calvert Counties. The enrollment process will be quick and only requires the member to bring two things: a government-issued photo ID and the palm of their hand. Only members in good standing, who are 18 years of age or older, are eligible for enrollment. Cedar Point recognizes that not everyone will be interested in this new technology, so while registration is encouraged, it is optional.
For more information about this technology, visit www.cpfcu.com/MyPalm.