Cancelable biometric key generation is vital in biometric systems to protect sensitive information of users. A novel technique called Reciprocated Magnitude and Complex Conjugate-Phase (RMCCP) transform is proposed. This proposed method comprises of different components for the development of new method. It is tested with the multiple aspects such as cancel ability, irrevocability and security. FVC database and real time datasets are used to observe the performance on Match score using ROC, time complexity, and space complexity.