Facial Recognition MAKING ITS WAY IN BANKING
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©2021 HID Global Corporation/ASSA ABLOY AB. All rights reserved. HID and the HID Global are trademarks or registered trademarks of HID Global or its licensor(s)/supplier(s) in the US and other countries and may not be used without permission. 2021-09-30-eat-facial-recognition-making-way-in-banking-ig-en PLT-06195 To explore more about how facial recognition technology is transforming banking and financial institutions, visit our website >> Latin America is projected to grow at a CAGR of 16.24% North America is projected to grow at a CAGR of 8.29% Asia-Pacific is projected to grow at a CAGR of 17.40% Europe is projected to grow at a CAGR of 14.08% The global facial recognition market size is projected to grow at a CAGR of 14.3% Africa & Middle East is projected to grow at a CAGR of 16.93% Sources: researchandmarkets.com HOW BANKS ARE USING FACIAL RECOGNITION Facial recognition brings a safer and more seamless banking experience: quick access to services, improved efficiency and stronger security. eKYC Facial recognition for eKYC enables fast, seamless and secure customer mobile enrollment. There's no need for onsite visits, resulting in time saving and greater customer satisfaction. Digital Banking Login A simple, secure and seamless process to access ATMs, self-service kiosks and online banking apps. Stronger Authentication Combining facial recognition with fingerprint achieves a strong, two-factor authentication for ATM and in-bank services, without requiring cards, passwords or PINs. Time and Attendance Automation An employee using their face or fingerprints to prove their presence makes it impossible to trick the time and attendance system (e.g. “buddy punching”). Customer Experience Facial recognition is contactless and frictionless and can minimize security risks. It also enables banks to deliver personalized services and reduces wait time. Compliance Financial institutions are incorporating AI and facial recognition to meet Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance standards. Access Control Facial recognition manages access for authorized users to secured areas and systems in a facility. Know where people are and what systems they are accessing at all times. Fraud Prevention Biometric authentication uses unique physical characteristics to verify identity, making it much harder to “spoof” the system. Facial Recognition MAKING ITS WAY IN BANKING The Rise of Facial Recognition Technology
Transcript of Facial Recognition MAKING ITS WAY IN BANKING
©2021 HID Global Corporation/ASSA ABLOY AB. All rights reserved. HID and the HID Global are trademarks or registered trademarks of HID Global or its licensor(s)/supplier(s) in the US and other countries and may not be used without permission.2021-09-30-eat-facial-recognition-making-way-in-banking-ig-en PLT-06195
To explore more about how facial recognition technology is transforming banking and �nancial institutions, visit our website >>
Latin Americais projected to
grow at aCAGR of 16.24%
North Americais projected to
grow at aCAGR of 8.29%
Asia-Paci�cis projected to
grow at aCAGR of 17.40%
Europeis projected to
grow at aCAGR of 14.08%
The global facial recognition market size is projected to grow at a CAGR of 14.3%
Africa &Middle Eastis projected to
grow at aCAGR of 16.93%Sources: researchandmarkets.com
HOW BANKSARE USINGFACIALRECOGNITION
Facial recognition brings a safer and more seamless banking experience: quick access to services, improved e�ciency andstronger security.
eKYCFacial recognition for eKYC enables fast, seamless and secure customer mobile enrollment. There's no need for onsite visits, resulting in time saving and greater customer satisfaction.
Digital Banking Login A simple, secure and seamless process to access ATMs, self-service kiosks and online banking apps.
Stronger AuthenticationCombining facial recognition with �ngerprint achieves a strong, two-factor authentication for ATM and in-bank services, without requiring cards, passwordsor PINs.
Time and Attendance Automation An employee using their face or �ngerprints to prove theirpresence makes it impossible totrick the time and attendancesystem (e.g. “buddy punching”).
Customer Experience Facial recognition is contactless and frictionless and can minimize security risks. It also enables banks to deliver personalized services and reduces wait time.
ComplianceFinancial institutions are incorporating AI and facial recognition to meet Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance standards.
Access Control Facial recognition manages access for authorized users to secured areas and systems in a facility. Know where people are and what systems they are accessing at all times.
Fraud Prevention Biometric authentication uses unique physical characteristics to verify identity, making it much harder to “spoof” the system.
Facial Recognition
MAKING ITS WAYIN BANKINGThe Rise of Facial Recognition Technology
