Clients and partners news
BSS Company together with NtechLab, a face recognition algorithm developer, presented a new technological solution for banks based on two-factor biometric identification. The product created by the companies uses face and voice recognition algorithms, which makes it possible not only to increase the speed and reliability of the bank clients’ authentication by an order of magnitude, but also to launch services which are essentially new for the market.
BSS Company offers solutions based on the use of voice technologies in online banking and call centers to control access and security, as well as to develop personalized offers based on the analysis of telephone conversations. NtechLab is one of the leaders in the world market of neural network solutions. The company’s algorithm makes it possible to compare pairs of faces with a 99% degree of accuracy and search in a database of 200 million photographs in less than 0.3 seconds with an accuracy of more than 70%.
Joint development by NtechLab and BSS will increase the popularity of banking operations from a mobile phone and ensure the growth of operational safety without affecting the quality of client experience. Two-factor biometric identification significantly improves the speed and accuracy of the system operation. When working with the online bank, a client actually passes two verification procedures — by voice and by face image, but at the same time, the client does not need to perform additional actions or spend time.
The solution by the two companies can be used both in the field of remote transaction confirmation, and for quick personalization of client offers in the bank branches. For example, a company can "teach" the system to memorize clients and broadcast personalized advertising messages when a person once again enters the office of a credit institution.
"Access to the expertise of the largest player in the RBS market is extremely important for us in this partnership," Mr. Alexander Kabakov, co-founder of NtechLab, noted. "Thanks to our cooperation, we are not only entering the market with a new product, but have a clear understanding of the banks’ needs and the knowledge their business processes. This combination of new technologies and expertise in the banking sector can not only shift the balance of power in the market, but also fundamentally change it."
"The solution by NtechLab complements BSS’s developments, thereby opening a previously unavailable level of service personalization and the security of transactions for our clients," Mr. Andrey Chuchelov, Director of Voice Digital Technologies Department, BSS, stressed. "Face recognition is one of the most promising technologies in the world and, in combination with BSS technologies for voice identification and verification, it allows us to offer our clients a fundamentally new product that can change the concept of banking service standards."
The partnership of NtechLab and BSS Company, which made it possible to create a unique solution, guarantees a high level of not only technologies, but also consulting, which will also be provided to banks.