Financial ID Briefing: Naked Payments For Kentucky Fried Chicken

September 11, 2017

The Financial ID Briefing brings you top highlights from the world of biometrics, mobile ID, and finance. It is powered by FindBiometrics and Money20/20.

Biometrics Help The Virtual Bank Teller See You, Hear You

FinovateFall 2017 starts today at the New York Hilton, where attendees can have a glimpse into the automated future of finance powered by AI and biometrics. Sensory, Inc. is in attendance demonstrating a virtual bank teller solution that can see you, hear you, understand you, and take your banking requests.

The virtual bank teller represents the natural overlap between Sensory’s various artificial intelligence and biometric technologies. An AI avatar represents the customer touchpoint, allowing for an intuitive experience facilitated by dynamic mouth movements. Underneath the friendly facade, Sesnsory’s flagship speech, voice, and facial recognition technologies are at work. TrulyHandsfree allows the teller to recognize and respond to voice commands, smoothed over by TrulyNatural software that enables it to understand conversational speech. TrulySecure, meanwhile, leverages face and voice authentication technologies to verify the identity of the user.

All in all, the virtual teller system represents the convenient, contactless, secure, and automated financial future at the intersection of multimodal biometrics and AI-powered innovation.

Naked Payments For Kentucky Fried Chicken

Yum China’s new restaurant concept, KPRO by KFC in Hangzhou (PRNewsfoto/Yum China Holdings, Inc)

Facial recognition is taking off in China. Novel applications of the technology are facilitating convenient air travel, protecting against toilet paper theft, and making it easy to buy food at Kentucky Fried Chicken. AliPay’s Smile to Pay naked payments system has been deployed at an upscale KFC restaurant in Hangzhou, China.

Customers can place orders at kiosks shaped like giant smartphones, and pay with nothing but facial recognition biometrics. As a naked payments system, Smile to Pay allows KPRO customers to complete retail transactions without a wallet or smartphone—all you need is your identity.

While facial recognition itself is gaining popularity in China, the concept of naked payments is emerging around the world as an alternative to mobile wallets. Perhaps the most high profile system is set to launch in 2020 at the Tokyo Olympics, during which visiting tourists can expect to pay for goods and services with nothing but a fingerprint.

KYC in P2P

The next big wave in mobile wallets is shaping up to be Venmo-style P2P payment capabilities. As users begin to acclimatize to the paradigm of their smartphone as a personal financial device, vendors seem keen to make mobile commerce more intuitive and cash-like. But unlike basic Apple Pay, Samsung Pay, or Android Pay retail transactions, P2P payments require a bit more identity assurance, and that’s where biometrics are coming in handy.

Facial recognition and document capture software is enabling ID verification on Plynk, a new European P2P money transfer app. The capabilities come via Jumio’s Netverify platform, which in addition to the aforementioned document and face recognition also boast liveness detection through a new eye-tracking feature.

On a wider industry scale, even Apple looks to be moving in the face biometrics-enabled P2P money transfer direction. While not yet fully confirmed, lines of code discovered in the iOS 11 beta name the feature as Apple Pay Cash and suggest that funds can only be sent to friends with valid document and ID confirmation through the app itself.

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September 11, 2017 – by Peter B. Counter

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai