Business / Corporate

Seven Bank to use facial recognition to let people open accounts at ATMs across Japan

Kyodo

Seven Bank will equip its ATMs with facial recognition technology, possibly starting this fall, as a way to identify customers and let people open bank accounts on the spot, sources said Monday.

The new ATM operated by Seven Bank, a unit of retailer Seven & I Holdings Co., would be able to confirm the identity of someone wanting to set up a bank account in a few seconds by scanning a photo ID and taking a picture through a high-precision camera, they said.

At present, a person needs to send a copy of an identification document, such as a driver’s license, to open a bank account.

Seven Bank is also considering offering services to open accounts via the new ATMs for other online banks and regional banks, they said.

Seven Bank has over 24,000 ATMs at convenience stores, public facilities and elsewhere nationwide. Several thousand of the new ATMs are expected to be installed by summer 2020 in large cities, they said.