Seven Bank, NEC to launch facial recognition and QR code enabled ATMs

Monday 16 September 2019 11:23 CET | News

Japan-based Seven Bank and NEC Corporation have partnered to launch ATMs with facial recognition technology for identity verification and a QR code reader for document authentication and payments. 

NEC’s NeoFace technology is part of its Bio-Idiom portfolio of biometric authentication technologies. After entering their personal information through a PC or smartphone, users receive a QR code that together with identification documents and face images are copied by the ATM’s camera and scanner.

As of October 2019, facial recognition at ATM points would allow clients to open bank accounts with Seven Bank, initiative part of a global digitalization trend among fintech organizations. The biometric-enabled ATMs will also leverage AI and IoT to anticipate cash demand and identify component failures.

Some of the key features in the ATMs include identity verification with facial biometrics and an identification document reader, settlement with a QR code reader, Bluetooth functionality for data sharing with smartphones, automatic financial crime detection, optimized operations through AI and IoT.

Traditional ATMs in Tokyo will be replaced with next-generation ATMs by the summer of 2020, while replacement in all cities is to be finalized by the end of 2024, NEC claims.

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Keywords: Seven Bank, NEC, facial recognition, QR code, ATM, biometrics
Countries: World