Facebanx Develops Online Facial Recognition Tech For Banks

Payments security company Facebanx has launched their new online facial recognition solution, allowing FIs to scan facial images via a laptop, smartphone or tablet camera.

Faces are recorded via a video stream and then compared to a data base, verifying the person’s identity, Finextra reports.

“Our product has been specifically designed to combat fraud and provides a unique solution for processors to share data to combat multiple acts of fraud,” said Matthew Silverstone, CEO of Facebanx. “We are currently in discussions with a number of processing companies, banks and merchants about adding our software to their CRM.”

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