Sumitomo Bank Prepares to Launch Mobile Authentication App

Japan’s Sumitomo Mitsui bank is getting ready to launch a mobile biometric authentication app developed in collaboration with NTT Data Corporation and Ireland-based Daon.

The work was first announced last autumn, with the organizations planning to leverage Daon’s Identity X Platform, a multimodal biometric authentication system that has seen other successful mobile deployments in partnership with financial services organizations like USAA and Mastercard. The platform will enable Sumitomo’s app to authenticate users via fingerprint, facial, and voice biometrics.

It’s a pioneering effort in Japan, coinciding with regulatory changes allowing the country’s banks to more thoroughly explore emerging technologies. As Tech Wire Asia reports, Sumitomo plans to appeal to the country’s financial regulator next Monday for permission to go ahead with its new authentication app.

Sumitomo has demonstrated a strong interest in biometric fintech, having also partnered with NEC Corporation in December to explore payment systems based on facial recognition. As for the Daon-developed app, the bank is aiming for a full-scale launch this summer.

Source: Tech Wire Asia

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April 4, 2017 – by Alex Perala

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