Anton Nazarkin, IDD, VisionLabsAnton Nazarkin, IDD
It was in 2020 that contactless transactions hit their highest rate since 2015. The pandemic has really demonstrated both the necessity and desire from consumers, for truly contactless methods of payment. It is clear that facial recognition, as a transaction method, will continue to grow throughout 2022 and beyond.

That’s where VisionLabs can help. VisionLabs has created a suite of powerful hardware and software solutions bolstered by its AI-driven machine learning algorithms that help enterprises facilitate the future of digital transformation. The software solutions include LUNA SDK and LUNA PLATFORM.

While VisionLabs’ flagship product, LUNA SDK, is delivered as a pure face recognition engine to enable efficient and accurate processing of images and live video streams of faces, available on a wide range of devices, the LUNA PLATFORM is the Web Service implementation of LUNA SDK. It includes LUNA SDK and is a biometric data management system that offers greater flexibility to create scenarios of varying complexity for integrated face recognition. The products are based on VisionLabs’ face recognition algorithms and supporting algorithms based on deep neural networks.

“Our DNNs have a proprietary, self-developed patented architecture that helps us utilize them efficiently across multiple use cases and platforms (server, mobile),” says Mr. Alexander Khanin, the Chairman and Founder of VisionLabs.

VisionLabs’ core business is facial recognition technology, which offers unparalleled precision to all its customers. The company holds the top spot in the NIST Benchmark for accuracy, both 1:1 and 1:N.Further, the company’s KYC technology is a basis for quality enrollment of face biometrics for customers.
It evolves step by step, gradually expanding the provision of biometric services within the bank under one solution.

“VisionLabs’ vendor agnostic technology provides system integrators and digital transformation consultants with the facial recognition capabilities needed to build a preeminent biometric offering,” states Mr. Khanin. “We are an out of the box solution that can be easily integrated into 3rd party hardware.”

In an instance, an innovative fast growing bank in the APAC region has been able to reach 35 percent of daily onboarded clients through eKYC after launching the LUNA solution from VisionLabs, which shows the company’s technological prowess. In the end of 2020, the bank piloted an eKYC service based on face biometrics to onboard individual clients remotely. The service was built based on technology stacks from various providers in relevant fields. After several months of using the biometric solution, the bank decided to look for a more advanced and reliable technology that could help them to reduce the false acceptance rate (FAR), increase the speed of processing biometrics, deploy solution on its premise, and provide a solution that also could be used in other use cases by using biometrics.
  • Our DNNs have a proprietary, self-developed patented architecture that helps us utilize them efficiently across multiple use cases and platforms (server, mobile)

Due to the faster speed of performance and better accuracy of VisionLabs technology it created an opportunity to develop services that would allow the bank to authorize transactions and purchases with their facial biometrics. As a result, they were able to use this solution as 2FA during purchases and transaction authorizations and also explore the possibilities of utilizing it for the use cases such as facepay and cash deposit/withdrawals with the face.

To facilitate contactless transactions even further, VisionLabs has launched LUNA POS, the first payment terminal to support both traditional payment methods while also facilitating transaction authorization via biometric facial recognition in October 2021. This new technology has received significant interest from both the banking industry as well as from retail.