NEC further advances FinTech initiatives
Tokyo, – NEC Corporation (NEC; TSE: 6701) today announced that it is conducting trials for cashless payment services utilizing NEC facial recognition technology in cooperation with Sumitomo Mitsui Financial Group, Inc. (SMFG), Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card Co., Ltd. (Sumitomo Mitsui Card).
The SMBC trials take place between December 12, 2016 and January 30, 2017, involving approximately 1,000 employees at the dining facilities of SMBC’s head office. The Sumitomo Mitsui Card trials take place between November 21, 2016 and January 31, 2017, and involve approximately 400 employees at the company’s Tokyo head office.
Biometric authentication makes fraudulent impersonation extremely difficult in comparison with other methods of authentication, and eliminates the need to carry ID cards or other forms of physical ID. In the payment field, for example, there are high hopes for the development of new biometric technologies that will enable a diverse range of users to experience highly advanced services and payment methods.
The service being tested in these trials utilizes NEC’s NeoFace facial recognition engine, which has been recognized as providing the world’s highest level of authentication accuracy, to enable identity verification by matching employees’ pre-registered facial images against the images taken by cameras installed in the employee dining facilities. Payment for items purchased is automatically deducted from employees’ monthly salaries for the following month.
This facial recognition has the unique characteristic of not requiring the installation of dedicated authentication devices, and offering enhanced security and peace of mind due to the fact that registered facial data is stored in the form of numerical values (making it difficult or impossible for a third party to identify the faces of registered users even in the event that they are able to obtain the data).
In these trials, NEC, SMBC and Sumitomo Mitsui Card aim to verify the recognition performance, employee receptivity to biometric authentication, and operational aspects of the service, while gaining experience and know-how; with a view to providing safe, secure, convenient cashless (and card-less) payment services utilizing facial recognition technology at branches in the future.
“Along with these trials, NEC is improving the functionality, reliability and convenience of identity verification in a variety of areas,” said Fumiaki Matsubara, Senior Vice President, NEC Corporation. “We successfully concluded payment service trials using facial recognition at small shops inside our own head office, and aim to see the commercialization of these services contribute to greater safety and security in communities throughout the world.”
About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company’s experience and global resources, NEC’s advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.
The NEC Group globally provides “Solutions for Society” that promote the safety, security, efficiency and equality of society. Under the company’s corporate message of “Orchestrating a brighter world,” NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, please visit http://www.nec.com/en/global/about/vision/message.html
NEC is a registered trademark of NEC Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners. ©2016 NEC Corporation.
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