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Secure digital ID for safe, smooth banking

Banks and financial institutions worldwide are embracing rapid digitization as a way of offering secure and seamless financial services and satisfying growing customer appetite for digital-first banking. That means adopting flexible methods for accessing services with security tools that go beyond simple username and passwords.

NEC is using its recognized world-leading biometric authentication technologies and face recognition technology to pioneer smooth and accurate identity verification solutions for the banking sector using digital platforms to optimize banking customer experience.

We are also applying our half-century of experience in biometrics to meet broader demand for more stringent customer identification methods to address the increasing risk of cyberattacks fraudulent transactions in traditional and new emerging banking channels.

Secure digital ID optimizes banking customer experience

Digital identity plays a central role in the finance industry by forging a personalized customer experience and combining ease-of-use and accessibility with security, privacy and control of consumer data.

As the recognized world leader in biometric technology with 50 years of biometrics experience, NEC is using its suite of multi-modal biometric authentication and face recognition technologies to create secure digital ID and identification verification solutions for the financial sector that optimize customer experience and build confidence in the digital space.

NEC's face recognition technology and FIDO Alliance-certified NC7000-3A-FS system are specifically tailored for the banking, financial services and insurance sector to guarantee simple, secure and swift financial transactions that offer unparalleled banking satisfaction at a considerably lower cost of system ownership.

At 99.2% accuracy, our face recognition technology is consistently ranked by NIST independent tests as the world's most accurate verifier of faces even from poorly lit obscured images.* That makes it the perfect choice for verifying individuals carrying out financial transactions, monitoring the type and number of people queuing in bank branches or ATMs, and screening public movements to prevent unauthorized activities.

Whether it be online banking or account opening, retail payments or secure bank and ATM use, NEC biometric solutions are already playing a highly effective role in helping protect customer information. At the same time, helping to create secure, constantly available mobile banking, detect and deter fraudulent banking activity, and improve the business effectiveness and productivity of banking staff.

Enhancing Customer Experience with Secure Digital Identity

Advanced Solutions for Safe Financial Spaces

NEC's reputed biometric recognition systems can help create environments within financial organizations and publicly accessible financial spaces that are safe for clients, and guard against the potential loss of valued assets.

Simple Access in a Secure Environment

To reduce dependency on conventional password authentication and its vulnerabilities, Fast Identity Online (FIDO) is offering a new means of online authentication using biometric technologies. NEC, as a sponsor member of the FIDO alliance, has been regularly contributing to the improvement of authentication standards worldwide. NEC’s NC7000-3A-FS is a mobile-based client-side biometric solution tailored for the banking, financial services and insurance sector that addresses the online authentication needs of customers by providing them with simple access to a range of different financial services in a secure environment that ensures swift transactions.

To reduce dependency on conventional password authentication and its vulnerabilities, Fast Identity Online (FIDO) is offering a new means of online authentication using biometric technologies. NEC, as a sponsor member of the FIDO alliance, has been regularly contributing to the improvement of authentication standards worldwide. NEC’s NC7000-3A-FS is a mobile-based client-side biometric solution tailored for the banking, financial services and insurance sector that addresses the online authentication needs of customers by providing them with simple access to a range of different financial services in a secure environment that ensures swift transactions.

Improving Customer Experience

Our advanced biometric recognition systems can be used in functionally independent applications, such as face-based payments or know your customer (KYC) automation processes or they can be seamlessly integrated into existing biometrics security solutions to help create a secure environment for financial transactions and enhance customer experience in the financial services sector.

Access Control

NEC's superior face recognition technology and fingerprint identification solutions can prevent the loss of valuable assets by safeguarding access to critical financial-sector applications such as user authentication, mobile banking, and ATM use in large-scale financial institutions worldwide.

Monitoring Individuals

NEC's intelligent video analytics track onsite activity and monitor suspicious individuals as they enter and move about corporate facilities and publicly accessible locations, such as bank branches and ATMs.

Success Stories

Face Recognition System for Credit Fraud Prevention

CredDefense, Brazil:
CredDefense, a Brazilian fraud detection platform, implemented NEC's NeoFace® Watch solutions in its database of over 130 clients representing 20,000+ businesses. This integration enabled the company to accurately map the facial features of its customers by capturing their facial image with a PC camera, smartphone or tablet.

Results:

  • Reduced incidents of fraud by over 90%
  • Achieved approx. R$1 billion annual savings for the clients
  • Reduced false acceptance rate to less than 2%

Face Recognition System for Enhanced Customer Experience

OCBC Bank's Holland Village branch, Singapore:
NEC successfully tested and rolled-out its NeoFace® software at OCBC Bank's Holland Village branch in Singapore for identifying customers using an unobtrusive approach. The project illustrated how the NEC solution was able to instantly identify VIP customers in real-time as they approached the lounge in the branch without requiring them to stop and look at the camera.

Results:

  • Bank was able to successfully record purpose of a customer visit
  • Gather feedback to help improve services
  • Understand customer behavior patterns, such as frequency of visits
  • *
    NIST test results do not constitute endorsement of any particular system by the government.
    For more information, visit new windowwww.nist.gov.

Resources

Banking and Financial Services Video Digest
Explore NEC’s Secure Digital Identity concept tailored for the Financial Services Sector
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Related Links

Secure digital identity for financial services

Face recognition

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