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FRN.iQ - Biometric technologies

Description

In the era of total digitization, the challenges that finance institutions are facing are leading to the rapid

advancement of banking technologies. When it comes to personal authentication and AML, most tasks can be performed using biometric technologies.

The development of video technology and the invention of hypersensitive optical scanners have expanded the methods of collecting biometric data. Meanwhile, the introduction of Big Data technologies automated the process of comparing biometric profiles within intelligent infor mation systems.

BS/2 is engaged in the implementation of biometric solutions in the infrastructure of financial institutions,

merchants and service providers. Our goal is to optimize business processes and ensure the highest possible level of security when making payments and performing other ope rations up to date.

 

One of the key tasks of banks has always been ensuring the safety of operations and reliable client authentication. With the introduction of KYC (Know Your Customer) practices in the banking sector, aimed at combating money laundering and other illegal actions, authorization with a bank card or portable payment tools (mobile phone, smart watches, etc.) becomes insufficient.

On the other hand, bank customers are accustomed to value their time and want, if possible, to reduce the time spent in a bank branch or in the queue of a self-service device. Both these problems are solved with the introduction of facial recognition systems and other methods of biometric authorization.

BS/2 offers the introduction of an integrated LUNA face recognition platform along with various application solutions for self-service devices and bank branches.

BENEFITS

FACE AS MEANS OF IDENTIFICATION

The user gets the opportunity to conduct operations on the self-service device, without using additional payment instruments.

REDUCED SERVICING TIME

Self-service device scenarios can be simplified by eliminating the need to enter a PIN or payment details.

MINIMIZED FRAUD RISKS

Biometric authentication allow implementing two-factor authentication and reduce the risks associated with bank cards (skimming, trapping, etc.)

EASE OF DEPLOYMENT

The user face recognition system in self-service devices can be embedded in the current banking infrastructure in the shortest possible time: video cameras are used to collect data, while the bank's CRM system is linked with the storage of customers’ digital faces.

Features

AUTOMATED LOAN ISSUANCE

Loan issuance has always been one of the main business areas of retail banking. About 80% of all loans are microloans. Their proper processing, data transferring within the structure of the bank and final decision-making takes time. This reduces the overall level of customer satisfaction with the service provided while the bank personnel is overloaded with daily routine tasks.

Self-service devices integrated with biometric authentication systems automate this procedure.

A single database of debtors with attached biometric profiles will allow banks to minimize their risks at the credit scoring stage. The internal banking system may, if necessary, transmit data on a loan application attempt to the police, the tax service and other competent authorities.

PERSONNEL AND CIT AUTHORIZATION

ADDITIONAL SECURITY MEASURES

The maintenance and CIT personnel get the opportunity to work with the device based on the working schedule and the relevant data according to their access level. The data is stored in the system with the ability to update in real time.

ACCESS CONTROL SCALING ON AN INDIVIDUAL LEVEL

Access control minimizes the negative influence of the human factor and reduces damage from improper work performance.

VALID WORK FLOW DATA COLLECTION

All data on work performance and work duration can be stored in the internal system of a bank or a service organization. This allows restoring the picture when parsing various controversial situations.

AUTOMATIC DOCUMENT PREPARATION

CIT and maintenance engineer authorization can significantly accelerate the process of performing working operations by automatically filling out electronic forms and other documents in the performance accounting system.

IDENTIFICATION OF BLACKLISTED PERSONS

  • Reducing security service reaction time in case of emergency.
  • Securing the equipment and sensitive data.
  • Arresting a fraudster upon collection of evidence.
  • Strengthen the image of a financial institution as a reliable banking service provider.

FACE RECOGNITION IN MARKETING

WORKING WITH VIP CLIENTS

Face recognition allows banks and other organizations to work more effectively with their most important customers.

ASSISTING ELDERLY PERSONS

When recognizing a face of an older person, the system informs a bank employee that such a client needs help. It also becomes possible to display an adapted interface for the convenience of using a self-service device.

TARGETED ADVERTISING

Based on the analysis of anonymized digital image data, the self-service device can run targeted advertisements set for a specific user segment even before the user is authorized.

RECOGNIZING EMOTIONS

Machine learning technologies provide the function of recognizing clients' emotions, which allows resolving conflicts more efficiently when the device user is puzzled or angry.

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