21 January 2018
visit http://response.ncr.com

Costa Rican bank to roll out facial recognition technology

12 January 2016  |  10480 views  |  1 facephi

Banco Nacional of Costa Rica is to authenticate clients logging in to mobile banking with face recognition technology from Spanish biometrics company FacePhi.

The Costa Rican bank will roll out the technology to mobile customers in the second quarter. A second phase of the programme will see the face recognition tech expanded to the bank's online services.

The contract marks the seventh financial institution to sign up for PacePhi's technology.

The use of biometrics to eliminate the need for passsword entry is gaining ground in the financial services sector. MasterCard is currently running two pilots in the US and the Netherlands, to test the use of facial recognition technology for payment verification.

With the likes of Apple Pay raising awareness and consumer comfort with the tech, MasterCard says that its research shows that three quarters of people have now heard of biometric payments.

While fingerprint scanning is the most common form of biometric authentication, facial recognition is gaining some traction, with Wells Fargo trialling it for mobile corporate access and firms in Taiwan and China exploring its use at ATMs.
KeywordsBIOMETRICS

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 13 January, 2016, 11:40

If it works well in practice using only the standard camera on an entry level smartphone, facial recognition could help bring biometric authentication into the mainstream. The need for a separate reader - and availability of that reader as a standard feature only on higher end smartphones - has been a major hurdle towards the widespread adoption of fingerprint authentication technologies despite their being around for over a decade.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Worldpay trials facial recognition technology

Worldpay trials facial recognition technology

01 October 2015  |  12547 views  |  0 comments | 24 tweets | 39 linkedin
MasterCard trials selfie payments in the Netherlands and US

MasterCard trials selfie payments in the Netherlands and US

18 August 2015  |  23358 views  |  3 comments | 55 tweets | 46 linkedin
Taiwan bank trials face-recognition ATM

Taiwan bank trials face-recognition ATM

10 August 2015  |  13423 views  |  0 comments | 29 tweets | 22 linkedin
Wells Fargo to usher in voice and facial biometrics for mobile corporate access

Wells Fargo to usher in voice and facial biometrics for mobile corporate access

26 June 2015  |  16302 views  |  1 comments | 20 tweets | 28 linkedin
Chinese firm unveils facial recognition ATM

Chinese firm unveils facial recognition ATM

02 June 2015  |  13066 views  |  3 comments | 27 tweets | 29 linkedin
Alibaba unveils 'smile-to-pay' tech

Alibaba unveils 'smile-to-pay' tech

16 March 2015  |  17783 views  |  4 comments | 26 tweets | 23 linkedin
USAA to roll out voice and facial authentication for mobile log-in

USAA to roll out voice and facial authentication for mobile log-in

20 January 2015  |  11796 views  |  2 comments | 17 tweets | 16 linkedin
Costa Rican credit union taps face recognition tech for m-banking authentication

Costa Rican credit union taps face recognition tech for m-banking authentication

31 October 2014  |  9546 views  |  0 comments | 8 tweets | 13 linkedin
BNZ uses facial recognition software to find out how customers feel about money

BNZ uses facial recognition software to find out how customers feel about money

25 September 2013  |  8165 views  |  0 comments | 17 tweets | 7 linkedin
HSBC rolls out facial recognition technology at data centres

HSBC rolls out facial recognition technology at data centres

29 October 2008  |  8445 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.vasco.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
13100 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8334 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
8234 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
7262 views 1 | 7 tweets | 2 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job