Facial Recognition making its way in banking - venkat k - Medium

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Facial recognition technology is entering the banking industry mainly used for physical security and ID identification.

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9/11/2019 Facial Recognition making its way in banking - venkat k - Medium https://medium.com/venkat34.k/facial-recognition-making-its-way-in-banking-3bbf047ec111 1/3 Facial Recognition making its way in banking venkat k Sep 11 · 3 min read Facial recognition technology is entering the banking industry mainly used for physical security and ID identification. Some of the startups have emerged to serve the niche the largest being Tech Technology a company with 200 employees in Shanghai according to a report in Emerge. Founded in 2012 by the founder of the Ph.D. in statistics from the University of California the company employs many machine learning researchers. The company also makes the Dragonfly Eye Intelligent Security System. Another is the Cloud Walk Technology of China which raised 7 507 million as of September 2018. They have contracts with Bank of China and Bank of Chongqing. The

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9/11/2019 Facial Recognition making its way in banking - venkat k - Medium https://medium.com/venkat34.k/facial-recognition-making-its-way-in-banking-3bbf047ec111 2/3 President holds a Ph.D. in Electrical Engineering from the University of Illinois-Urbana Champaign. In face recognition the company appears to be in early mode with some data scientists and machine learning researchers. Other startups include Intelligence which provides a Face Recognizer that can detect the customer’s face as shown in the stored image when the customer tries to access their bank account from an ATM with the camera for example. If the customer’s photo is not stored in the bank’s database ATM individuals can record what they are facing and associate it with the accessed account. Intellivision raised 6 million. Face first provides software of the same name for access control using Machine Vision. The system can authenticate identities deliver mobile notifications to the security team and receive appropriate preferences for users with identity preferences. Companies say clients can integrate the software with existing image databases and video footage. Face first accumulated .5 9.5 million in investment capital. In Japan Seven Bank plans to make its ATMs with facial recognition technology according to an account in the Japan Times. Machines use biometrics to determine the identity of the person who wants to set up a bank account. It scans the photo ID and takes a picture with a high-precision camera. Seven Bank has 24000 ATMs in convenience stores and nationwide. By the summer of 2020 several thousand new ATMs are expected to be installed in larger cities. Digital Bank has introduced facial recognition to help authenticate original banking transactions according to an account from ZDNet. Users can use their mobile phones to verify transactions for a system called Liveness. Available from November the app can request basic and spontaneous movements that capture with cameras the bank calls back for more verification. With Liveness we provide more flexibility and agility in the processes and this service greatly enhances the security of operations. US banks and the auto industry also release facial recognition: At least 30 US companies are investigating the use of facial recognition for identification. Among them are auto manufacturers. Ford and Intel have teams on Project Mobil in which the dashboard camera uses facial recognition to identify the vehicle’s primary driver or other authorized drivers according to CB Insights Market researchers. The

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9/11/2019 Facial Recognition making its way in banking - venkat k - Medium https://medium.com/venkat34.k/facial-recognition-making-its-way-in-banking-3bbf047ec111 3/3 system remembers how the driver likes the music the seat position and the speed of the vehicle. Ford was granted a patent in 2015 for a keyless non-biometric device that authorizes drives to drive vehicles according to optional biometrics including facial recognition. Articial Intelligence Ai Services Ai Solution Machine Learning AI About Help Legal

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