NEC has teamed up with a Texas-based cryptography specialist to bring biometric facial recognition to ATMs.
Its new partner, Futurex, is a major provider of data security solutions including Hardware Security Modules; the company says that over 15,000 organizations around the world, including financial services organizations and corporate entities, have used its solutions. Now, it is integrating NEC’s AI-driven facial recognition technology into its HSM solutions, with an eye to bringing this tech to ATMs.
In announcing the collaboration, the companies suggested that the biometric capabilities will help financial services providers to meet growing demand for contactless solutions amid the COVID-19 pandemic. End users would be able to access ATMs with a face scan, rather than by entering a PIN for authentication.
What’s more, Futurex says its HSMs are compliant with FIPS 140-2 Level 3 and PCI HSM standards, offering assurance that the biometric authentication will be supported by effective data encryption. Its HSMs can be deployed on-premises, or through Futurex’s cloud service.
“With the current pandemic, financial institutions are looking to adopt contactless banking – including biometric-powered transactions – in their ATMs,” explained NEC APAC SVP Vivian Tay. “By integrating Futurex’s HSMs and NEC’s AI-based face recognition technology, financial institutions can assure their customers that the process is secure and their identities will be protected.”
The partnership reflects NEC’s growing presence in the financial services sector, where biometric technologies have seen rising demand. Japan’s Seven Bank began deploying ATMs featuring NEC’s facial recognition technology last September, and earlier this year NEC announced a partnership with Veritrans to bring face-based payments to 7-Eleven stores in the country.
July 29, 2020 – by Alex Perala