Hitachi Europe Ltd., Mitsubishi Corporation and Aktif Bank have formed a coalition to exclusively develop and deploy Hitachi’s VeinID Five technology in Turkey and surrounding countries.
Hitachi’s VeinID Five uses finger vein technology as a password replacement solution for users of Windows 10, using a standard desktop or laptop camera. With a simple wave of the hand, the camera captures the user’s unique finger vein pattern and grants access – without any physical contact required. It is also planned to be rolled out on mobile platforms at a later date.
Alongside the creation of a regional distribution network, the partnership will collaborate on the creation of a large-scale centralized platform solution in the Turkish market. This will provide customer authentication and make the customer acquisition process more convenient. The partnership aims to become a leader in biometrics authentication focusing on finger vein, facilitating the adoption of touchless authentication, frictionless customer experience and enhanced security on a national scale.
“Aktif Bank, Turkey’s largest privately-held investment bank, continues to serve as the largest fintech ecosystem of Turkey”, says Serdar Sumer, the CEO of Aktif Bank. "We are excited to join our partners Hitachi and Mitsubishi in providing a transformational technology for both Turkey and the surrounding countries.”
Discussing plans to develop a large-scale platform that can put a great number of technologies on the market in the future, Mr. Sumer remarked; “We are working to develop the VeinID Five technology as a platform that will enable digital transformation in all aspects of daily life. It will be able to satisfy the authentication requirements encountered during remote customer acquisition and management, in the finance sector but also across industries such as e-commerce, transportation and health-care.”
“At Hitachi, we work with our partners to create innovative technologies that solve problems and power good in society. As an emerging technology hub, Turkey is an ideal location to deploy VeinID Five and we believe, with the help of our partners, that there will be a high level of adoption in a short period of time”, said Ravi Ahluwalia, General Manager of Hitachi Europe’s Security Business.
Underlining the noteworthiness of the cooperation, established by and between the three companies, Kazuo Inada, Mitsubishi Corporation's General Manager for Turkey, remarked; "It is exciting to start this partnership with such renowned companies. Our common purpose is to create a platform that can be utilized by numerous enterprises and the end-users in the targeted geographies".