Sberbank Uses ATM Lie Detectors to Fight Credit Fraud
- Russia-based Sberbank is currently testing a new ATM in its next generation branches. This automaton enables its users to apply for a credit card without having to interact with an advisor.
- An identification procedure is carried out for each request and the customer’s credit history is checked upon. The machine scans his passport, records his fingerprints and takes a three-dimensional scan for facial recognition. It also includes voice-analysis software to define whether the applier is telling the truth when answering questions such as: “Are you employed?” or “At this moment, do you have any other outstanding loans?” etc.. No dates have been disclosed regarding the deployment of these ATMs.
- Self-service banking now provides all sorts of new possibilities to favour automatic processing of customers’ requests rather than human intervention.
- The exchanges between customers and banks are now increasingly dematerialised, and, in line with this evolution, intelligent ATMs are being developed around the world. Turkey is one of leading countries in this field: new generation ATMs are already in place to allow loan application.
- Considering these trends, the security of these devices must further be enhanced: Sberbank takes the lead and integrates a technology based on lies detectors. However, this initiative may cause some issues as the bank has already been accused of paying no attention to its customers’ right to privacy.
- ATMs now partake to the banks’ strategy as they try to define alternative, and cheaper, distribution channels. Some could even consider implementing these devices in shopping centres deprived of financial branches to ease customers’ access to credit.