Financial landscape is growing expeditiously, offering new opportunities of economic and commercial growth. And experts suggest that facial recognition can be uniquely profiting to lever and protect this growth.
RecFaces, an international facial recognition software vendor, is excited to announce their upcoming webinar focusing on the transformative role of Facial Recognition Systems in the Banking Sector. The webinar, titled ‘Facial Recognition In Banks: A Win-Win Game To Improve Security And Customer Experience’ will be held at 12:00 PM GST on May 14th, 2024.
New arenas of banking transformation
The rapidly paced banking growth allows the implementation of unconventional solutions
The undeniable importance of technology to support and uplift the banking sector comes as an opportunity for exploring new arenas of banking transformation. The rapidly paced banking growth allows the implementation of unconventional solutions that strengthen the smart approach towards banking processes like KYC, customer verification authentication, etc.
However, it is equally important not to turn a blind eye to the many challenges technology poses, identity threat being the most crucial of them. Exploring the best solutions that can help tackle this and numerous other concerns, facial biometrics outshines traditional security systems.
Another layer of protection
Automation and digitalisation of KYC, identity verification and unified financial management has become the new way of things. The prime goal remains the same-protection of users’ information, identity and experience. Facial recognition technology is such a solution that stretches across physical, digital and experience security.
For example, it provides a distinctive mechanism that functions in real-time, reducing false positives during the verification process. Rather than just adding another layer of protection, it can offer commendable benefits to save resources and efforts required for detecting frauds, identity theft and data breaches.
Financial ecosystem
Facial recognition contributes to the safety of banking and also matches with the growing trend
By adopting a touchless mechanism, facial recognition contributes to the safety of banking and also matches with the growing trend that young users are keen about, which is digital banking.
Touching upon these benefits of facial recognition technology in the banking sector, the potential this unification offers is far-reaching and futuristic. As the financial ecosystem evolves towards online banking, RecFaces is among pioneers facilitating this evolution.
Reliable system for security and convenience
“Facial recognition is not a novel technology. It has been around for years and is continuously evolving to be the best security solution out there. It has incredible security, scalability and accuracy features, which makes it a power-packed and reliable system for security and convenience. The webinar is extremely important to attend for those seeking to upscale their financial infrastructure." said Eugenia Marina, Business Development Director, MENA Region, RecFaces.
“The financial industry is booming and is expected to grow exponentially. To keep pace with the environment and support its growth, technologically affluent facial recognition systems can revolutionise the financial landscape,” said Sukrit Varma, Global Marketing Partner, APAC and MENA regions, RecFaces.
