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Points to be given for enabling ATM to migrate (or sign up) to mobile wallet for NFC + HCE features providing one more layer of security for customer's card. 

Ofcourse, with prepaid cards it can be further used for Wages payout which can be further transfer to the mobile.

@ A Finextra member - Thanks for sharing best practices. It's insightful.

@BO - In India we have seen POS txn cash withdrawal starting to gain in trend. What are the ways ATM network in Nordic build their business? 

The figures from study shows that 40% of Euro 8 billion is underground economy ( assume we take lower side).

Is it effect of migration of cashless society creating it as part of progression? is it that AML controls are questionable in the country?

@Kevin Thanks for views. I agree Palm vein has advantages over finger prints. I had case study of few banks in Brazil started few years back using Fujitsu 's palm vein solution at their ATMs.

India being largest biometric citizen database owner such developments are always tracked for serious business case for India. Ofcourse we have KYC done using biometric database as part of customer onboarding.

ICICI Bank in India has started the similar services in July 2015. Good start to biometric authentication. Kudos to some of the leading technology and innovators such as Nuance.

JCB riding of Biometric Authentication for Payments and joining party with MasterCard.

Seems to be interesting authentication sequence which some how remains incomplete.

"Depending on the number of people registered, however, a multi-digit number key may need to be input to narrow down the authentication process."

My understanding:

Customer swipes card, uses the Palm vein sensor attached to TABLET ( looks to be Embedded Win OS tablet :)) and Palmvein authentication server sends card data which needs to be inputted through Key Pad.

Why card data is returned or is it some kind of random number for additional security?

What happens for E-commerce transaction as customer can use palm vein authentication with App on my smartphone similar to Barclays?

@Thanks Joao for sharing thoughts and very good book :)

The key success factor of Fintech competition is single visible thing - They know what customer does? When, Where and How at the tip of fingers (Using Mobile First Approach) and then they started offering LOW VALUE transaction services to purchase, gift and exchange goods.

Banks so far never bothered themself with such details and thus need to learn new tricks of the trade. Winners who learn and adept faster can win especially banks known to be risk averse find it difficult to tackle it.

Few fore-runners  from banks such as BBVA had found the way and vision others still in process of paving it !!!.

Startups always need such talent of Financial and marketing advice. I remember CNBC started such concept on it's TV series where Harshal Shah - CEO of Yatra.com use to drill the startup and later there is mentorship from Amity if I am not forgetting.

Certainly this security incident will raise lot many questions in consumers mind as well as bring diffficulty for financial institutions to build confidence through customer education.

Mostly all finger print scanners have inbuilt scan and encrypt feature to send data over ( I refer known brands - Fujitsu, 3M Cogen, Sagem Morpho ...) the network in secured way from device to the device driver as well as further to the host. Fraudster may find difficult to replace it as Man in Middle attack but again it is subjected to implementation and architect followed while designing biometric authentication.

Kudos to BBVA and Everledger to come up with original idea and brilliant use of blockchain for high risk market.