Futurex & NEC partner to enable biometric-powered transactions at ATM

By Pavithra R

Futurex, a globally recognized provider of enterprise-class data encryption solutions, has announced the integration of its hardware security modules (HSMs) and the AI-driven face recognition technology from NEC Asia Pacific.

The COVID-19 pandemic has resulted in organizations and industries exploring and adopting contactless services, interactions, and payments. Through the technology integration, Futurex is expecting to enable financial service providers to introduce an additional security layer for their systems, including ATMs, by performing verification and validation of face recognition-based banking transactions.

“Behind the scenes, we are powering contactless transactions. We have integrated with NEC, the pioneer of scalable biometrics, to provide real-time verification of face recognition at ATMs. This provides the security and reassurance financial institutions and customers require,” said Ryan Smith, Vice President, Global Business Development at Futurex.

Futurex’s HSM is a dedicated, standards-compliant cryptographic appliance designed to protect sensitive data in transit, in use, and at rest through the use of physical security measures, logical security controls, and strong encryption. It is available as on-premises hardware or in the cloud through Furturex’s VirtuCrypt services and supports a range of enterprise-class and financial services critical cryptographic needs, including data encryption, fraud protection, and certificate and key management. Futurex HSMs are validated under FIPS 140-2 Level 3 and PCI HSM standards to ensure the highest level of security and compliance.

Futurex’s HSM provides the immediate verification needed to complete a facial recognition interaction so that a financial transaction can be completed securely and efficiently. Face recognition technologies provide a contactless identification process without the need to touch or interact with the individual. NEC’s face recognition technology is used globally for fighting crime, preventing fraud, securing public safety, and improving customer experience across a vast range of locations and industries.

“With the current pandemic, financial institutions are looking to adopt contactless banking – including biometric-powered transactions – in their ATMs. By integrating Futurex’s HSMs and NEC’s AI-based face recognition technology, financial institutions can assure their customers that the process is secure and their identities will be protected,” said Vivian Tay, Senior Vice President at NEC.

Established since 1981, Futurex is a trusted global manufacturer of hardware-based technology for the secure encryption, storage, and transmission of sensitive data. The firm’s mission is to be the leading provider of cryptographic solutions in the world.