“Seven Bank’s aim is to use the biometric technology for customer verification, and even to enable new customers to open bank accounts using the ATM.”
An online-focused Japanese bank is preparing to introduce facial recognition at its real-world ATMs, reports The Japan Times.
Seven Bank’s aim is to use the biometric technology for customer verification, and even to enable new customers to open bank accounts using the ATM. For the latter feature, the customers will be asked to present their photo ID documents to the ATM, which will scan them and compare the documents to their faces, thereby confirming their identities. The same approach is increasingly being embraced by other banks for remote onboarding via mobile apps.
Seven Bank is a subsidiary of Seven & I Holdings Co., which also owns 7-Eleven Japan; accordingly, its ATMs are dispersed across 7-Eleven stores in Japan, in addition to other locations including Seven Bank’s own physical bank branch locations. According to The Japan Times, Seven Bank’s ATM network numbers at 24,000, with several thousand additional ATMs slated to be deployed in major cities by 2020.
It isn’t yet clear which company is providing Seven Bank’s facial recognition technology; but it is perhaps worth noting that NEC is a major specialist based in the country. In any case, Seven Bank’s plan is suggestive of a larger trend as more banks around the world experiment with biometric ATMs.
Source: The Japan Times
January 9, 2019 – by Alex Perala