Commercial banks start to use the face recognition technology bundled with the password to strengthen the bank accounting security.
Piyapoj Kasempakdeepong, CEO and co-founder at Onionshak, a platform solution provider disclosed that the face recognition technology with artificial intelligence (AI) has become more recognized for the business operation and new normal life, it has been used for security and financial systems. The face recognition technology can uniquely identify a person by analyzing patterns based on the person’s facial textures, shapes and components such as eyebrows, eyes, mouth, nose, lips, scars.
The security system that the business sector has used for checking customers’ behavior who use the service, numbers of customers, checking the period of service using which are significant information for the business to further analyze customers behavior. For financial business, the technology is applied to examine the accuracy of personal accounting fund transfer, similar to using the password. At present, Kasikornbank and Siam Commercial Bank are the two commercial banks using face recognition bundled with passwords to verify the accuracy of personal fund transfer.
In the future, face recognition technology is probably a part of new financial service for identification. The technology will be more applied to the financial and security sector, but it may not be ready for the government sector because of the high cost of big data technology and it requires an amendment of the privacy law due to an implementation of CCTV in the public or private areas.
However, the issue of privacy rights is still a challenge of face recognition technology. China, for example, which is one of the most advanced technologies in the world, many Chinese people disagree with the use of face recognition as it was perceived as a violation of privacy.
