Facial biometrics are being increasingly used for online authentication. The technology works by using a camera to capture an image of the user’s face, which is then converted into a digital code. This code is then compared to a database of known faces, in order to verify the user’s identity. There are a number of advantages to using facial biometrics for online authentication. First, it is a highly secure method of verification, as it is very difficult to fake a person’s face. Second, it is convenient and quick, as there is no need to remember passwords or go through security questions. Finally, it is an unobtrusive method of authentication, as the user does not have to do anything other than look at the camera.
There is a growing consensus that smartphone-based biometrics combined with FIDO will address most risk profiles across all channels. Despite this, Mizuho Bank has built its own facial recognition software, and while it isn’t clearly identified in this article, is likely building its own honeypot.
More cryptically, the article indicates this is the first step to a digital ID service, a much larger initiative than can possibly be evaluated in this implementation light article:
“Mizuho Bank is launching a proof-of-concept trial of its digital ID service, which leverages facial biometrics and device location information for improved online authentication and ongoing customer due diligence (CDD).
The financial institution will work with Google Cloud Japan, which will provide technical support, Nomura Research Institute, which will develop the app and build the server system and Dai Nippon Printing Co., which provides facial recognition technology for the trial. Dai Nippon Printing will develop facial recognition functions accessed through an API and eKYC functions under the collaboration.
The trial is intended as a first step towards the establishment of infrastructure for a full-fledged digital ID service.”
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group
