NEC Banks on Biometrics for Singapore FinTech Festival Showing

NEC is going to show off some of its latest innovative technologies at this week’s Singapore FinTech Festival.

NEC Banks on Biometrics for Singapore FinTech Festival ShowingIts facial recognition technology will underpin some of the major items on the docket. NEC plans to showcase how this technology can be used for mobile authentication – an application of increasing interest to a number of financial services companies including heavyweights like Mastercard. The company will also show off a cashless and cardless payment system that connects user accounts directly to their facial biometrics, which it was trialing in Japan this past summer.

In a statement announcing its plans for the Singapore FinTech Festival, NEC asserted that its facial recognition technology is based on the “world’s most accurate facial recognition algorithm”, a claim that should help to further attract attention to these solutions. And with plans to participate in a panel discussion on authentication during the conference, NEC Central Research Laboratories Head of Research for Biometrics and Behavior Analysis Ken Hanazawa may have an opportunity to elaborate on that technological sophistication.

This is the first ever Singapore FinTech Festival, and NEC seems to be anticipating that it can make a big splash with biometrics. Based on the enormous popularity of biometric technology at this year’s Money20/20 conference, chances are that’s a safe bet.

November 14, 2016 – by Alex Perala