Akihabara News (Tokyo) — Resona Holdings, Panasonic System Solutions Japan, Dai Nippon Printing, and credit card firm Japan Credit Bureau (JCB) will jointly begin development of facial recognition technology to be incorporated into future banking services.
The companies will utilize Panasonic’s facial recognition technology and Dai Nippon Printing’s proficiency in identity verification to produce a system that will allow customers to conduct their transactions using a facial recognition system. These transactions will include withdrawals, deposits, and even to make payments at the supermarket.
The facial recognition platform will also be available to assist with admission and exits at venues, according to JCB.
The firms are aiming to have the system set up and running by as soon as next year.
Resona Holdings has expressed its interest in expanding the system to other regional banks in Japan with the current project as the template, and encouraging companies from other sectors to join the initiative.
The system will require customers to upload and verify their personal details, linking their accounts and biometrics on a server that will, according to its design, not be accessible to outside companies.
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