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Wednesday, 14 February 2018, 12:38 HKT/SGT
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Source: NEC Corporation
NEC's Facial Recognition System Elevates Customer Experience at OCBC Bank
Delivering a personalized welcome with NeoFace facial recognition solution

TOKYO, Feb 14, 2018 - (JCN Newswire) - NEC Asia Pacific and NEC Corporation today announced the successful testing and roll-out of a facial recognition system at OCBC Bank's Holland Village branch to identify Premier Banking customers. OCBC Bank is one of the first in Singapore's banking sector to adopt such a system as part of its digital efforts to improve service excellence.

Facial recognition is a growing form of biometrics used to identify and authenticate persons in a wide range of industries. With the widespread usage and acceptance in immigration systems, and secured identity card systems, biometrics is now expanding into commercial applications (e.g. banking, retail etc.).

Implemented since 4 December 2017, the system instantly identifies OCBC Premier Banking customers in real-time as they approach the lounge in the branch without needing to stop to look at the camera. This is a very unintrusive approach for the bank to identify them.

Based on the VIP identification, the system allows the Premier Service Manager (PSM) to promptly identify and greet customers by their preferred name, offer them their preferred drinks and magazines, and, understanding their visit records, to promptly deliver services, giving the client a more personalized and pleasant customer journey.

The Bank can record the purpose of a customer's visit, gather feedback to help improve services, and understand customer behavior patterns, such as the frequency of their visits.

The system utilizes NeoFace, NEC's AI engine for face recognition.

NeoFace is recognized as the fastest and most accurate facial recognition algorithm in the world by the National Institute of Standards and Technology in the United States(1), greatly exceeding all other vendors in both accuracy and speed.

The NeoFace engine can be used for a variety of applications and scenarios such as:

- Access control and attendance tracking for staff and visitors in different areas
- Workstation/console login for more secured access
- Customer authentication for transactions as a 2nd factor on different channels of financial institutions
- Seamless online transaction experience using facial recognition for payment authentication
- For safety reasons; monitoring for individuals on watch lists or tracking people who loiter on the premises
- Fraud prevention with NEC's "liveness"(2) detection
- Tailored advertising signage and marketing material using facial recognition to understand the age and gender of patrons

"OCBC is committed to our service quality and implementing facial recognition to elevate the customer experience is one of the first steps that we are doing in the digital economy. Since introducing it, we received positive feedback from customers who were impressed by the personalized hospitality enabled by fast and accurate identification. Going forward, we will evaluate and consider the extension of the capability beyond customer service," said Mr. Pranav Seth, SVP, Head of E-business, Business Transformation and Fintech & Innovation group, OCBC Bank.

"We are pleased to work with OCBC Bank to provide this cutting-edge facial recognition solution to help improve the overall delivery of services to their valued clientele. We hope that through this co-creation we have helped OCBC Bank stay competitive in this fast-paced industry where customer experience is key. Moving ahead, we look forward to exploring more innovative and meaningful ideas to help customers digitally transform their businesses through artificial intelligence that includes biometrics and facial recognition," said Lim Kok Quee, Managing Director and Deputy CEO (ASEAN Sub-Region) of NEC Asia Pacific.

NEC has been engaged in the development of facial recognition technology for over 30 years. NeoFace is currently implemented in more than 40 countries by a wide range of public and private organizations.

(1) NEC's Video Face Recognition Technology Ranks First in NIST Testing -
http://www.nec.com/en/press/201703/global_20170316_01.html
(2) NEC's real time facial recognition technology with an anti-spoofing measure built in to determine if a face is real or fake (e.g. a mask).

About NEC Asia Pacific Pte. Ltd.

Singapore-based NEC Asia Pacific (NEC APAC) is the regional headquarters for NEC Corporation (HQ: Japan) in the Asia Pacific region (South and Southeast Asia and Oceania). As a leading information and communications technology provider, NEC APAC provides innovative solutions and infrastructure to promote safety, security and enhance the quality of life for individuals and the community. NEC APAC's expertise includes solutions for carrier networks, biometric identification, enterprise applications and infrastructure, unified communications, transportation solutions, multimedia displays and smart energy, as well as the provision of managed services and contact centre services.

Together with our research laboratories, NEC APAC provides cutting-edge public safety, cybersecurity technologies and enterprise solutions to enable safer cities, with a vision to create a brighter future. For more information, please visit http://sg.nec.com.


About NEC Corporation

NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. The NEC Group globally provides "Solutions for Society" that promote the safety, security efficiency and fairness of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, visit NEC at https://www.nec.com.

Contact:
NEC 
Seiichiro Toda         
s-toda@cj.jp.nec.com 
+81-3-3798-6511


Feb 14, 2018 12:38 HKT/SGT
Source: NEC Corporation

NEC Corporation (TSE: 6701)

Topic: Press release summary
Sectors: Enterprise IT, Security/Biometrics
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