Russian banks demo biometric ID system

Three Russian banks have joined with Rostelecom to launch a demo beta version of a new biometric identification platform.

Tinkoff Bank, VTB Bank, Pochta Bank and Rostelecom, Russia’s long-distance telephony provider, have launched a beta version of its Unified Biometrics System (UBS). The digital platform was developed at the request of the Ministry of Communications and Mass Media and the Bank of Russia.

According to a statement by the group, the beta version features all the key components to deliver basic human identification functionality and is ready to be integrated into the banks’ information systems.

The UBS combines  based on a photographic image to provide identification of a individual. For each identification parameter, the system uses biometric solutions from a number of vendors, while it will deny authentication if the match score against the reference biometric data stored in the UBS is too low.

It will utilise Rostelecom’s secure cloud infrastructure accessible by the banks via special communication channels of the Interagency Electronic Interaction System. In the course of their transmission to the UBS, user data will be protected by domestic encryption algorithms.

Oliver Hughes, chairman of Tinkoff Bank’s management board, said “Remote biometric identification will facilitate interactions with clients for us and other online banks, while also giving the clients access to a wider range of attractive offers. We welcome this step by the industry, and we are confident that the Unified Biometrics System will foster the development of the entire financial market through improved competition and customer experience.

“At Tinkoff Bank, we have our technology insights into testing voice prints and facial recognition based on a photo, and we will be happy to share our experience with Rostelecom and other partners working on the UBS.”

The commercial launch of the Unified Biometrics System is slated for 1 July 2018.

In the identification space, earlier this year GlobalSign, a provider of identity and security solutions, formed a partnership with loan software provider DocuFirst. The collaboration enables DocuFirst to deliver digital signature capabilities to its customers through GlobalSign’s new Digital Signing service.

Facebook also recently purchased biometric ID verification startup Confirm, which specialises in remotely verifying IDs like drivers licenses. The Boston-based startup offers an application programming interface (API) that helps verify government-issued identification cards.

Copyright © 2018 RegTech Analyst






Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst


The following investor(s) were tagged in this article.