Ping An

2018: Use of a system of face recognition

The Chinese banks began to scan persons of clients that on microlooks to distinguish signs of deception at potential borrowers. At the end of October, 2018 the Financial Times edition reported about it.

The system developed by the Chinese conglomerate Ping An which specializes in insurance and financial services allows to analyze a look of the client using the camera of the smartphone and on hardly noticeable mimic movements to understand as far as he truthfully tells about the purposes of receiving a loan.

Banks began to scan persons of clients to recognize deceivers at issuance of credits

Banks of the People's Republic of China some of the first tested technology on a commercial basis. In the West do not hurry to adopt experience because of doubts concerning reliability of a system and ethics of its use yet.

The Ping An technology will recognize 54 types of involuntary microexpressions, including the movements of eyes and blinking which appear on the person on shares of seconds before the brain manages to check a mimicry. Fixing almost inaudible changes on persons of applicants for the credit, a system reacts to suspicious and warns about a fraud risk.

According to the deputy head of Ping An Lee Yuan Siong, technology of scanning of microlooks more precisely, than other methods of identification of deception. A system helped to reduce loan losses by 60%, the top manager claims.

Of course, the company does not make the decision on issue of money or failure in a loan only on the basis of the analysis of microlooks. However if a system reveals something suspicious in a customer behavior, the candidacy is considered more carefully.

Along with Ping An advanced technology is tested by the Chinese bank department of Standard Chartered. In an interview to the edition Kee Sun-Tuan, the CIO of financial institution, compared this method to lie detector test.

Also a system has one more important advantage — an opportunity for work with the client in the remote mode. It will allow financial institutions to grant loans even where they have no physical representations, Ki Sung-Tuang noted.^[1]

Notes