Japan’s Seven Bank and compatriot tech company NEC are developing a next-generation ATM which has a facial-recognition engine, NEC said in a statement.
The new ATM is expected to replace old ATMs starting this month.
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.
Taking into account the advances in biometrics, AI, IoT, and other technologies, this next-generation ATM is capable of face recognition for identity verification and settlement with QR codes, the Japanese firm added.
Additional features include Bluetooth functionality for data-sharing with smartphones, automatic financial crime detection, optimized operations through AI and IoT, and a 40% decrease in electricity and CO2 emissions, according to the announcement.
In addition, the advanced ATM also utilizes AI and IoT to predict cash demand more precisely and detect prior warning of component failures, which helps to streamline ATM operations, NEC added.
NEC’s NeoFace technology is part of the firm’s 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.
ATMs, Seven Bank and NEC will continue to provide safe and secure lifestyle
infrastructure and provide new value in response to changes in society,” NEC
In July, NEC announced an agreement with airline alliance Star Alliance to develop a biometric data-based identification platform with the aim of improving the travel experience for frequent flyer program customers of Star Alliance member airlines.
implemented, Star Alliance customers who opt-in to biometrics will be able to
pass through curb-to-gate touchpoints within airports, such as check-in kiosks,
bag-drop, lounges, and boarding gates, which traditionally require both a
passport and boarding pass, by using a secure identity management solution
featuring facial recognition technology.
Shiv has over 8 years experience working on Internet of Things and an avid user of Drones