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China Merchants Bank offers mobile facial recognition
http://www.ecns.cn/cns-wire/2016/02-25/200543.shtml
Feb 25th 2016, 16:42
ECNS Wire
(ECNS) -- China Merchants Bank (CMB) has rolled out facial recognition technology on its latest mobile banking service, allowing customers to transfer 200,000 yuan ($30,620) to 1 million yuan ($153,000) at a time.
Several Chinese banks have followed the lead of online financial giants in using this technology to verify user information, but it is usually carried out in a closed environment such as a bank office or ATM booth.
CMB has now gone further, although the process still needs the remote assistance of banking staff in establishing video contact, National Business Daily reports.
The bank was already using facial recognition technology as a secondary measure to aid bank tellers in verifying customer identities.
A CMB staff member said facial recognition technology in their mobile banking operation helps improve customer experience by enabling transitions at the time and location preferred by clients. ¡¡¡¡
Facing competition from online financial services, China's state-owned banks are more willing to adopt new technology in the mobile payment sector, insiders said.
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