November 15, 2016 -
NEC Corporation and NEC Asia Pacific are participating at the inaugural Singapore FinTech Festival conference and exhibition being held this week at the Singapore EXPO.
The festival, organized by the Monetary Authority of Singapore (MAS), in partnership with the Association of Banks in Singapore (ABS), aims to bring together a series of distinct events for the global fintech community.
NEC will be showcasing business concepts which will drive the digital innovation of financial services, while introducing the latest development of its blockchain technology.
NEC will also demonstrate secure facial recognition technology for mobile authentication. The solution combines NEC’s facial recognition algorithm with encryption software that enables hardware-level anti-tamper capabilities in order to deliver enhanced user experience and security for mobile authentication in banking applications.
According to a company statement, NEC will also showcase its cashless payment service utilizing facial recognition, without using cards or cash, for the first time in Southeast Asia. NEC conducted cashless payment trials in Japan from June to August 2016 as a part of its initiative to apply biometrics authentication technologies to a range of services. As a result, NEC hopes to enhance the reliability and convenience of the identification process.
Daichi Iwata, Head of the FinTech Business Development Office, Business Innovation Unit, NEC Corporation said, “NEC is pleased to be a part of the inaugural Singapore Fintech Festival showcasing our range of innovative technologies and solution offerings to customers. At NEC, our FinTech services address important social issues such as financial inclusion and safe banking practices, thereby creating a safer and more secure society.”
Ken Hanazawa, Head of Research for Biometrics and Behavior Analysis, Central Research Laboratories, NEC Corporation, will be participating in a panel to discuss authentication and advanced sensors.