Facial biometric payments over 5G showcased at Slush Helsinki 2019
Last week more than 25,000 guests attended Slush Helsinki 2019, including 3,500 startups and 2,000 investors, at the Helsinki Expo Convention Center, where a number of companies showcased biometrics solutions and explored the market for more project ideas in the future.
GetID, for example, explored the crypto market and demonstrated new features for its fraud prevention solution now equipped with a mobile and web software development kit, ID verification, and facial recognition. GetID is also developing a digital ID to eliminate the need for KYC procedures that normally require extensive document downloads.
At the Finance Magnates London Summit earlier this month, Dmitry Kuravkin, Legal and Compliance Adviser at GetID held a workshop focused on “KYC challenges and innovations in the financial sector,” where he discussed market trends and digital identity initiatives.
Telia, OP Bank’s Pivo and Nokia were also present at the event to showcase 5G payment applications embedded with facial recognition technology, such as the Pivo Face Payment solution that does not require a credit card, cash or smart phone. All users have to do is stand in front of a tablet and the facial recognition technology will identify the customer by matching the face with a biometric template.
“Besides security, a smooth user experience is important for customers. 5G makes the service faster and is therefore the perfect partner for Pivo Face Payment. We believe that the trial with Telia opens a new window to the future,” says Kristian Luoma, Head of OP Lab.
A similar experience could be enjoyed at Telia’s booth where attendees could pay for snacks with facial recognition over 5G. Other innovation featured Nokia FastMile 5G gateway, Telia’s new AR by Telia app, and examples of 5G and video analytics in industrial solutions.
“Facial payment is a good example of a service that benefits from the capacity increase and lower latency of 5G. 5G will also take the security of mobile connections to the next level, which is interesting for example for payment and other financial services,” says Janne Koistinen, head of Telia Finland’s 5G program.
biometric payments | biometrics | facial recognition | GetID | identity verification | KYC | Nokia