Sberbank invests in face recognition to build unique biometric identifier | Central regions, Finance, business

Central regions | Finance, business | Technology & innovation

Sberbank invests in face recognition to build “unique biometric identifier”

1 Dec '17
In November, Sberbank, Russia’s national savings bank, announced an investment in VisionLabs, a Russian start-up developing solutions for face recognition, data analysis and robotics, EWDN reported.

The deal, the terms of which remain undisclosed, aims to support VisionLabs’ expansion on the international markets, including Europe, the U.S. and Asia. Sberbank has acquired a 25.07% stake; the remaining shares belong to the company’s founders and venture fund Sistema_VC.

Sberbank sees the transaction as “a major first step to build a biometrics platform,” which will include “face, voice and retina identification, as well as other biometric factors.” The bank will use VisionLabs’ solution as the basis for its “unique biometric identifier that will let Sberbank clients access any service.”

The technology will reportedly be used both within Sberbank’s ecosystem and be available to a wider market.

Dubbed “Luna”, this solution allows businesses to “verify and identify customers instantly” based on photo or video images. The investor underscored the “unique quality and performance” of the pattern recognition technology.