Importance In the context of expanding the tools of credit institutions related to management of risk of involvement in questionable transactions, there is a need to introduce new technologies of anti-money laundering and combating the financing of terrorism. Biometric identification technologies may be effective in minimizing the risk and protecting the corporate information systems of banks. Objectives The objective is to define major areas of biometric systems utilization in banks, their application issues, trends and development prospects. Methods The study draws on statistical and analytical methods and forecasting techniques. Results I have studied practical application of biometric technologies in Russian and foreign banks, areas, problems and prospects for their use, and development trends; identified the most promising technologies. Conclusions and Relevance The widespread use of biometric identification in banks is still limited for variety of reasons. The use of biometric technology requires the transformation of culture, mindset, processes and technologies within a credit institution. The problems of infrastructure costs, the need to explore and evaluate new risks associated with biometrics, as well as psychological unwillingness of many people to apply biometric identification still remain urgent. In addition, none of the current methods enable to identify one customer from tens or hundreds of thousands of other customers without other methods of identification. There should be an integrated approach to identification, using classical instruments. However, the existing possibilities and the modern element base of biometric systems can ensure the implementation of complex algorithms that significantly reduce the likelihood of misidentification.
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