Facial Recognition ATM’s – How The Technology Is Thriving In Spain
Facial recognition ATMs are on the rise around the world and banking consumers are seeing widespread use of this technology especially in Spain, where CaixaBank successfully deployed facial recognition technology in their ATMs for six months.
CaixiaBank found that their banking customers were able to seamlessly use facial recognition technology without any problems especially when they were offered the chance of using it as an option to using a traditional PIN.
Thanks to their use of facial recognition technology, the bank found that wait times at local ATM’s were reduced by 5%, and efficiency at their bank branches increased as consumers were able to quickly gain access to cash and complete their other banking transactions that they needed to accomplish.
Spain’s Third Largest Bank
CaixiaBank’s success with facial recognition has put other banks around the world on notice since they are Spain’s third-largest bank and they also have a presence in Portugal as well that serves two million people.
Will facial recognition enjoy widespread adoption on ATM’s worldwide in the future? Thanks to Covid-19, the answer to this question may be yes because this form of biometrics doesn’t require direct contact with an ATM unlike other forms of biometrics that require the user to physically touch an ATM.
Are Facial Recognition ATM’s Safe?
Although we’ve seen facial recognition used in movies and television shows for years, most consumers are wary of it because they don’t think it’s safe.
The good news is that as technology advances, facial recognition has become more refined so that the technology specifically looks at things like nose width, and the shape of a person’s cheekbones, to determine an ATM user’s identity.
Aside from the basic structure of a person’s face, the latest facial recognition technology also identifies more than 15,000 points on an ATM users face before validating a transaction, making it impossible for someone to just hold up a photograph of a face, or wear a face mask like they do in the movies.
Moving Forward With Facial Recognition ATM’s
CaixiaBank was already ahead of the curve when it came to deploying facial recognition ATMs in Spain and Portugal so it’s no surprise that the lender has enjoyed record growth in 2020 as they’ve continued to release the technology to all of Spain.
In a world where most people are hesitant to touch public surfaces, due to potential Covid-19 exposure, the lender has made it easy for their consumers to complete their banking transactions and live life as normal while other banking consumers avoid their banks ATM’s.
As CaixiaBank continues to see the success of their facial recognition ATM’s, there’s optimism around the world that more banking consumers could see this form of biometrics in use at an ATM near them.