A developer of China's first ATM with facial recognition feature tests the machine in public. (Photo : timesofindia.indiatimes.com)
The world’s first automated teller machine (ATM) with built-in facial recognition feature was launched on May 29, Friday, in China, which is also considered as the country’s first independently developed ATM.
CRIEnglish said that the new ATM will not allow clients who use another person's bank card to withdraw money even if they know the password.
The new ATM was designed and produced by Tsinghua University and Tzekwan Technology Company, a tech firm based in Hangzhou, the report added.
The new machines will be linked to local police offices and banks to help curb financial crimes and help authorities to respond immediately to it.
The article said that the Chinese-designed ATM is equipped with a camera that captures the facial images of a person and compares them with the ID photos in their data bank of users for verification.
The article added that the machine will be able to identify the cardholders and detect changes in their facial features, including the identification of biological characteristics, based on big data technology, and help prevent thieves who will try to trick the machine.
As an added feature, the ATM will keep a record of the serial number of every banknote that clients will deposit and be able to identify authentic banknotes from counterfeit ones.
According to the article, the independently developed ATM has been 20 percent more accurate than the average ATM used globally, especially when identifying and verifying the authenticity of multiple currencies.
The article also noted that the transaction speed in the new ATM is also much faster than current ATMs.
