Sberbank takes 25 per cent stake in biometrics firm
Written by Anthony Strzalek
Russia’s Sberbank has announced a deal to acquire 25 per cent in facial recognition technology outfit VisionLabs.
The investment in VisionLabs is the first step to build a biometrics platform of Sberbank’s ecosystem, involving face, voice and retina identification, as well as other biometric factors.
After a series of tests and pilots of the VisionLabs Luna platform, the decision was made to use it as the foundation for the identification platform. This will allow the creation of a unique biometric identifier that will let Sberbank clients access any service. The biometric platform will be used within Sberbank’s ecosystem and also be available to the wider market.
Lev Khasis, first deputy chairman of the executive board of Sberbank, said: “The project team has achieved very impressive results and was able to not only create one of the best technologies in the world, but also a product and a solution that have proved themselves in practice and already occupy a large share of the banking biometrics market in Russia and the CIS.”
Alexander Khanin, CEO of VisionLabs, added: “For us this deal with Sberbank is paramount recognition of our achievements. Together with such partners we are building Russia’s largest biometric platform and similar large-scale projects in the financial sector, retail, insurance, advertising, and access control and security.”