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Inter-Company Digital ID Being Tested as Biometric Compliance Gets Nearer

– Finance Feeds

The financial trading companies getting closer to integrating biometric technology

This article outlines how some institutions in the trading industry are investing in facial recognition technology for onboarding new customers. Three companies, Fujitsu, JCB and Mizuho Bank, are testing a system that would allow user ID to be shared interoperably among companies.

“Allowing this type of technology to operate on an inter-organization basis is a step forward.”

The report argues that the general public have trust in the security of biometric technology, and believe that credentials cannot be faked. It says that smartphone cameras and webcams can easily be used to verify customers’ identities and enable them to access their accounts.

Now Mizuho is working with Fujitsu to deal with this between companies, it could be extended to operational functionality between companies and regulators, making a huge difference to the efficiency of onboarding new clients

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