Facial recognition technology has begun making its way into Taiwan’s banking sector, with more automated teller machines (ATMs) being equipped with facial recognition software. Taishin International Bank (台新銀行) yesterday announced that it would expand the application into online banking services.
Taishin, which has installed ATMs with facial recognition software at four of its local branches and three convenience stores, said it adopted the technology for wealth management services last month.
The bank installed a facial recognition-equipped camera at its branch in Taipei’s Neihu District (內湖), which can identify its VIP members when they walk into the branch, it said in a statement.
Only clients who agree to create a facial ID and allow the bank to take photographs of their face would be recognized by the machine, Taishin said, adding that the system would not detect new clients or passers-by.
Upon recognizing a VIP client, the system would automatically notify the bank’s financial consultants, who would greet the clients and offer services, it said.
“The application has proceeded smoothly and our clients have given positive feedback to the new service,” Taishin said.
The bank is to tap the technology for online banking service from the third quarter of this year to make its services more convenient, it said.
Clients using Apple Inc’s iPhone X smartphone can log into the bank’s Web site using the device’s facial recognition feature, the lender said.
The bank said it would provide an update to extend the service to all of its clients.
CTBC Bank (中國信託銀行) and E.Sun International Bank (玉山銀行) at the end of last year also begun installing facial recognition software at some of their ATMs.
While Taishin and E.Sun’s ATMs allow clients to make withdrawals without bank cards, CTBC’s software can detect whether a user is engaged in suspicious activity or is being manipulated by scammers.
However, given that facial recognition software can sometimes fail to differentiate identical twins, the banks still require customers to key in their personal identification number or account password before they can withdraw or transfer money.
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