Russia’s biggest bank testing biometric security measures

May 29, 2016 - 

In an effort to decrease the need for bank cards, Sberbank, Russia’s biggest bank, is working on biometric security measures including voice and image recognition with an accuracy of 99.9 percent, according to a report in RT.

In an interview with Izvestia newspaper, a Sberbank spokesperson said that the voice recognition service will be offered to all the clients throughout Russia, and limited testing is already underway in Moscow. The bank also emphasized that the technology can identify if a person is calling under duress or when fraudsters steal customer information.

According to media reports, Sberbank is actively buying ATMs with biometrics technology for customer authentication and that when the bank launches its new platform in 2018, the use of bank cards as a payment instrument will decline sharply.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.