(Worthy News) - Russia will get a country-wide biometric database for financial services starting next summer, the central bank said.
The system will expand access to banking by letting people open accounts without having to visit a branch and is a key milestone in digitizing financial services, the Bank of Russia said in a statement. The regulator said that data would only be stored with individuals’ consent. Legal changes needed for the system passed this month.
State-owned Rostelecom PJSC has been selected to run the database, which will collect personal data including images of faces, voice samples and, eventually, irises and fingerprints. Facial-recognition technology has been gaining consumer acceptance around the world, with Apple Inc.’s latest iPhone using it to unlock the device. In Russia, the authorities and government-linked companies are leading the charge. [ Source: Bloomberg (Read More...) ]
Copyright 1999-2017 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.