January 28, 2020

Big Banks Are Watching You


Big Banks Are Watching You
Looks so inviting, doesn't it? Wikimedia, Valera N. Trubin

Some of Russia's largest banks are set to test new biometric ATMs, Izvestia reports.

Pilot projects for new technology that scans handprints and faces are to be introduced in 2020 by the banks Sberbank, VTB, and Tinkoff. According to Izvestia, facial, voice, and other recognition techniques will help customers access funds without cards, and receive service at unstaffed locations. Spokespeople for the banks point to greater convenience and low error levels; last year some even began to institute fingerprint-based ID for payments.

However, concerns have risen. The technology is still imperfect, leaving accounts vulnerable. And, of course, any foreigner that's used a Russian ATM in the past would likely be a little hesitant to hand over their biological data to companies that are tied to or owned by the Russian government.

All in all, though, we can't possibly see a way that this could go south, although this image of an out-of-order sign inexplicably comes to mind.

 

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