On 28 November 2011 00:10, Dinesh Shah (દિનેશ શાહ/दिनेश शाह) dineshah@gmail.com wrote:
Exactly! Without positive identity linking me to my account, how bank is going to be sure the person withdrawing money from my account is not that other Dinesh Shah? :-)
That ID is called "possession of the cheque book". Falls in the "you can be identified by what you have" method of classical identity management. This is actually two-factor, because the bank also verifies your signature with a specimen stored at the bank, via the "you can be identified by what you know" method.
If only the ICICIs of the world could think of two-factor authentication with such clarity their forefathers in the banking sector did, a few centuries ago.
(BTW, Signature is a biometric ID,even though it can be spoofed or duplicated)
B.S. What's biological about the signature??
Binand