Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced that Merck Sharp & Dohme Federal
Credit Union is enhancing
convenience and security for members and staff with biometric
technology from Fiserv. The credit union is utilizing a suite of palm
vein authentication solutions and is among the first financial
institutions in the country to adopt biometric technology to this extent.
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Merck Sharp & Dohme utilizes three Verifast™ biometric authentication
solutions from Fiserv, including Verifast
Branch for member authentication, and Verifast
SSO to authenticate its employees across its internal computer
systems. It is also the first institution to implement Verifast
Access, a system of building-wide, stationary palm scanning devices
that replaces traditional building access fobs and keycards with
convenient, highly secure biometric technology.
“Many of our members have spent their careers in STEM fields, and have a
natural appreciation for technology,” said Dave Whitehead, CEO, Merck
Sharp & Dohme FCU. “Verifast delivers a rare combination of speed and
security that facilitates an excellent experience for our members and
employees. I use Verifast daily – it’s simple, it’s smart, and we’re
proud to be an industry leader in biometrics thanks to what we’ve built
with Fiserv.”
Merck Sharp & Dohme FCU serves nearly 30,000 employees and contractors
of Merck & Company Inc. in addition to several other chartered segments
and is one of the largest credit unions in Pennsylvania.
“Building access is a big-ticket item in facilities management,” said
Dave Shannen, facility manager, Merck Sharp & Dohme FCU. “The
introduction of Verifast Access has been transformational for my
workflow and for our staff. We don’t have to manage lost or temporary
fobs and can easily facilitate differing levels and terms of access for
staff and visitors alike. There is nothing to remember or bring because
your palm is always with you.”
According to Expectations & Experiences, the quarterly consumer survey
from Fiserv, nearly 60 percent of consumers are interested in biometrics
being used to replace passwords and PINs, up 10 percent from two years
ago.
“Any change at the credit union requires careful planning and time,”
said Pat Kreidler, vice president of operations, Merck Sharp & Dohme
FCU. “Our marketing team has promoted Verifast with contests, signage
and outreach since the start – our members and frontline staff have
really embraced it. In particular, the retired professionals that
frequent our branches have quickly adopted the technology and appreciate
the convenience and speed. That enthusiasm has dovetailed into our
internal uses of the technology, including building access.”
The palm readers utilized by Verifast, which can be embedded in
on-counter palm scanners, computer mice and wall-mounted terminals, use
light to capture a user’s unique palm vein pattern. This pattern is then
matched against a database that synchronizes with the financial
institution’s core processing and other systems for secure login or
access.
“Like the employees at Merck Sharp & Dohme, I use Verifast at my desk
daily,” said Vincent Brennan, president, Credit Union Solutions, Fiserv.
“It makes a routine but essential task like authentication easier, and
enables interactions that can set a credit union apart. Merck Sharp &
Dohme is a pioneer in realizing the potential of this technology, and we
anticipate that many credit unions will adopt organization-spanning
biometric solutions over the next several years due to their appealing
ability to enhance both security and the user experience.”
In a world moving faster than ever before, Fiserv helps clients deliver
solutions in step with the way people live and work today – financial
services at the speed of life. Learn more at fiserv.com.
Additional Resources:
- See Verifast in action at Merck Sharp & Dohme FCU: https://fisv.co/MSDvideo
- Verifast from Fiserv – https://fisv.co/VerifastCU
- Expectations & Experiences: Household Finance: https://fisv.co/HouseholdFinance2018
About Merck Sharp & Dohme Federal Credit Union
Based in Chalfont, Pennsylvania, Merck Sharp & Dohme FCU is a non-profit
financial institution offering a full line of financial services and
products. Founded in 1950, MSDFCU serves nearly 30,000 members through
its six locations throughout Pennsylvania. Learn more at www.msdfcu.org.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a
way that moves the world. As a global leader in payments and financial
technology, the company helps clients achieve best-in-class results
through a commitment to innovation and excellence in areas including
account processing and digital banking solutions; card issuer processing
and network services; payments; e-commerce; merchant acquiring and
processing; and the Clover™ cloud-based point-of-sale
solution. Fiserv is a member of the S&P 500® Index
and the FORTUNE® 500, and is among the FORTUNE Magazine
World’s Most Admired Companies®. Visit fiserv.com
and follow
on social media for more information and the latest company news.
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