Nordic financial services group Nordea has selected authentication solutions provider Veridium to reduce data breaches and fraudulent transactions with biometric authentication.

The lender will deploy the complete VeridiumID platform that will replace tokens with biometric authentication.

Apart from VeridiumID platform, the lender will also deploy the technology vendor’s 4 Fingers TouchlessID and VeridiumAD solutions.

The bank’s employees will now use 4 Fingers TouchlessID instead of tokens for secure and convenient high privileged access.

Apart from enhanced security, the deployment is also expected to lower the bank’s total cost of ownership.

“This initiative is part of Nordea’s strategy to improve how employees access data and accounts while meeting new regulatory compliance demands,” Veridium said in a press statement.

Veridium CEO James Stickland said: “Maintaining customer, employee and company data is critical for all organisations – but especially those in the financial industry.

“With Veridium, Nordea will be able to take its first steps in advancing security for high privilege access and GDPR compliance. We’re delighted Nordea has selected Veridium for their security and authentication needs and look forward to continuing this partnership.”