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Japan's Seven Bank taps facial recognition tech for ATM-based account opening

Japan's Seven Bank is planning to add facial recognition technology to its ATMs, enabling users to open accounts through the machines, according to local press reports.

The bank, a subsidiary of retailer Seven & I Holdings, does not have a branch network but does operate more than 24,000 ATMs, mainly at convenience stores, notably Seven-Elevens.

According to the Japan Times, several thousand of these machines, mainly in large cities will get upgraded over the next 18 months, gaining a high-precision camera for taking photos of users.

Customers will be able to take a picture and scan a photo ID to open an account. Currently, new customers need to send a copy of their ID to the bank.

The new feature is being introduced thanks to a recent change in law, which allows machines to carry out identity verification duties.

Lead Channel

Retail banking

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Regulation & Compliance Security

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Automated teller machines and network services

Editorial | what does this mean?

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Comments: (3)

A Finextra member 08 January, 2019, 15:44

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This looks like technology looking for a problem to solve.

ATM's are rapid transaction devices. Get Cash, Check a Balance, Make a Deposit. That's why manufacturers introduced features like Quick Withdrawl. The last thing you want to do is create a queue at an ATM whilst someone is trying to open an account.

Now if the ATM sent a link to my cell phone so I could walk away and complete the task using the camera on my phone, that would be a far simpler task and avoid having to upgrade thousands of ATMs.

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Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 08 January, 2019, 18:00

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@Derek Corcoran + 1.

I said so myself at http://lnr.li/. That said, there could be a case for supporting such functionality on mega-ATMs aka Kiosks.

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A Finextra member 09 January, 2019, 14:31

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to Derek, surely it depends on how long the on-boarding takes. If it is done in 3 minutes is it such a big deal?

If the ATM also captures your contact details directly from taking a picture of your ID, it might be over in a flash. It all depends on the local regulation.