Finance Breaking news Futurex and NEC partner for ATM biometrics last financial news
Breaking-Finance.Com - Organizations and industries are quickly exploring and adopting contactless business, interactions, and payments — now a requirement during the COVID-19 pandemic. Futurex, a leader in hardened, enterprise-class data security solutions, today announced the integration of its hardware security modules (HSMs) and the cutting edge, AI-driven face recognition technology from NEC Asia Pacific (NEC APAC)...
Breaking-Finance.Com - This integration enables financial services providers to introduce an additional security layer for their systems, including ATMs, by performing verification and validation of face recognition-based banking transactions. Futurex’s HSMs manage cryptographic keys in real time, with the highest level of security. This provides the immediate verification needed to complete a facial recognition interaction so that a financial transaction can be completed securely and efficiently. Face recognition technologies can provide a truly contactless identification process without the need of touching or interacting with the individual. NEC's face recognition technology is used worldwide for fighting crime, preventing fraud, securing public safety, and improving customer experience across a vast range of locations and industries. Futurex’s HSMs — available as on-premises hardware or in the cloud through Futurex’s VirtuCrypt services — are used to support a range of enterprise-class and financial services critical cryptographic needs including data encryption, fraud protection, and certificate and key management.
“Behind the scenes, we are powering contactless transactions. We have integrated with NEC, the pioneer of scalable biometrics, to provide real-time verification of face recognition at ATMs,” said Ryan Smith, vice president, global business development at Futurex. “This provides the security and reassurance financial institutions and customers require.”
“With the current pandemic, financial institutions are looking to adopt contactless banking – including biometric-powered transactions – in their ATMs. 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,” said Vivian Tay, senior vice president at NEC APAC.
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