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FACCESS

Enabling the large-scale deployment of Facial Recognition in banking security

Total Cost €

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EC-Contrib. €

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Partnership

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Project "FACCESS" data sheet

The following table provides information about the project.

Coordinator
FACEPHI BIOMETRIA SA 

Organization address
address: CALLE MEXICO 20 EDIFICIO MARSAMAR 3
city: ALICANTE
postcode: 3008
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Spain [ES]
 Project website http://www.faccess2020.com/
 Total cost 2˙418˙000 €
 EC max contribution 1˙692˙600 € (70%)
 Programme 1. H2020-EU.3.7. (Secure societies - Protecting freedom and security of Europe and its citizens)
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-2-2016-2017
 Funding Scheme SME-2
 Starting year 2016
 Duration (year-month-day) from 2016-12-01   to  2018-11-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    FACEPHI BIOMETRIA SA ES (ALICANTE) coordinator 1˙692˙600.00

Map

 Project objective

FacePhi is a company founded in 2006 specialized in the development and commercialization of advanced Face Recognition Software solutions. There is a strong demand in the banking industry for secure biometric applications. In fact, in May 2014 the European Central Bank (ECB) published a list of recommendations for increased banking security and biometrics was included as one of the most secure authentication methods. Concerns about banking security have always existed, but it has been after the breakthrough of online and mobile banking when bank fraud has become major issue to address with urgency. Currently, banking authentication is typically done by using 4-6 digits PIN codes. This form of authentication provides an extremely low security, especially in online banking where cybercriminals can hack this PIN code in a matter of seconds. As a result, the total value of fraudulent transactions is rapidly increasing year by year, being now estimated at €1.44 billion solely in Europe. In this scenario, biometrics holds great promise to become a reference banking authentication method in a near future. However, despite the clear opportunity there are still some barriers preventing the banking biometrics breakthrough, at least on a large scale. FacePhi has developed a face recognition technology, specifically designed to overcome the current barriers preventing the large scale deployment of banking biometrics. Now, in the FACCESS Phase 2 project we seek demonstrating our facial recognition technology can actually unleash the large scale deployment of banking biometrics by the implementation of our product in the mobile/online platforms of 6 international banking institutions.

 Deliverables

List of deliverables.
FACCESS webpage Other 2019-09-06 11:04:51

Take a look to the deliverables list in detail:  detailed list of FACCESS deliverables.

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The information about "FACCESS" are provided by the European Opendata Portal: CORDIS opendata.

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