Japan’s Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Mitsui Banking Corporation have signed an agreement with NTT Data and biometrics provider Daon for the commercialisation of services that will offer individual identification platforms utilizing several different types of biometric authentication.
The projects are scheduled for launch in spring 2017, assuming that “relevant regulatory approval is received,” Daon says.
“SMFG plans to offer a seamless environment for accessing various services by furnishing a user authentication intermediary function using biometric data to link client and service provider account information,” the company explains. “This new service will be built using Daon’s IdentityX platform.
“Ahead of obtaining approval from relevant regulatory authorities, we are considering establishing a joint venture which will provide this service. The plan is to provide authentication functions not only for services provided by SMFG and NTT Data but also for customers of other financial institutions and e-commerce companies and internal user authentication for companies.”
“After rolling out the service in Japan, we plan to look into expanding this service globally,” Daon adds. “The objective is to deliver benefits to clients and service providers by furnishing a platform for seamless and frictionless user authentication when using and providing services.”