Russia's National Bureau of Credit Histories (NBCH) and system integrator Technoserv are partnering on a project that will see facial recognition technology used on potential borrowers.The technology will be used to scan clients' photographs and documents containing photographs in order to expose attempted loan fraud.”Banks that develop internal security systems cannot protect themselves from a new fraudulent client. A joint database of borrowers' biometric data provided by the NBCH member banks will make a highly effective verification instrument that will enhance the quality of loans,” Sergei Korneyev, president of the Technoserv group of companies, told RIA Novosti.NBCH Director General Alexander Vikulin said the service will be also made available to the NBCH partners in Russia, which include over 700 banks and about 2,000 microfinancing companies, to improve their decision-making efficiency in the loan sector.
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