Ping An speeds up online lending with facial recognition

Ping An speeds up online lending with facial recognition

China's Ping An group is to incorporate face recognition technology into its wealth management and other services to create the fastest lending platform in China, requiring only six minutes to complete a loan application.

The inhouse-developed technology is based on a complex neural network which allows computers to act like the human brain, says the company, with a 99% pass rate compared to a comparative score of 97.5% for the human eye.

Ping An claims the technology also compensates for the natural aging process and is even able to differentiate between twins.

The application was developed by the insurance group's science and technology artificial intelligence laboratory for implementation via the group's mobile social finance portal Tianxiatong.

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