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Sberbank buys stake in biometrics company VisionLabs

Friday 24 November 2017 10:16 CET | News

Sberbank, a Russian banking and financial services company, has acquired 25.07% of VisionLabs, a facial recognition developer.

The remaining stake belongs to Sistema_VC, the company’s founders and venture fund. The bank intends to use the VisionLabs LUNA platform as the foundation for the identification platform which will be deployed inside Sberbank’s ecosystem and also be available to the wider market.

The bank considers the investment in the biometrics company a “major first step” towards building a biometrics platform for Sberbank involving face, voice and retina identification. The deal will also support the development of VisionLabs projects in international markets, including Europe, the US and Asia.


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Keywords: Sberbank, VisionLabs, biometrics, facial recognition, mobile banking, VisionLabs LUNA, identity verification, Russia
Categories: Fraud & Financial Crime
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Countries: World
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Fraud & Financial Crime