Japanese bank introducing biometric ATMs to open accounts

Japan’s Seven Bank will begin to incorporate facial recognition technology in its ATMs as soon as this fall to enable users to open bank accounts directly through the machines, The Japan Times reports.

Company officials said the new Seven Bank ATMs will confirm users’ identity in a few seconds by scanning a photo ID and taking a picture through a high-precision camera. According to IBS Intelligence the introduction of this feature is due to a recent change in law to allow machines to perform identity verification processes.

Seven Bank is also considering offering services to open accounts via the new ATMs for other online banks and regional banks.

Seven Bank has more than 24,000 ATMs at convenience stores and public facilities in Japan. Several thousand of the new ATMs are expected to be installed by the summer of 2020 in large cities.

Article Topics

ATMs  |  banking  |  biometrics  |  identity verification  |  Japan  |  KYC