ISTANBUL/LONDON, 30 September 2020: 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 also 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".
About Hitachi Europe Ltd.
Hitachi Europe Ltd., a wholly owned subsidiary of Hitachi, Ltd. (TSE: 6501, "Hitachi") is headquartered in Maidenhead, UK. The company is focused on its Social Innovation Business - delivering innovations that answer society's challenges. Hitachi Europe and its subsidiary companies offers a broad range of information & telecommunication systems; rail systems, power and industrial systems; industrial components & equipment; automotive systems, digital media & consumer products and others with operations and research & development Laboratories across EMEA. For more information, visit http://www.hitachi.eu
About Aktif Bank
Aktif Bank, Turkey’s largest privately-held investment bank, continues to serve as the largest fintech ecosystem of Turkey thanks to its innovative business models and technology investments that redefine investment banking. Aktif Bank both collaborates and competes with domestic and global fintech companies with products offered via physical and digital channels. Customer focus approach is ingrained in the DNA of the Bank, which, together with its subsidiaries and business partners, provides 360-degree services to more than 10 million customers across above 10 lines of business, meeting their daily needs in various areas including loans, insurance, transportation, card services, and payment systems. It has 12 branches accross Turkey that focus on corporate banking, investment banking and private banking services. With 1,000 employees in total, including its subsidiaries, Aktif Bank serves 18 percent of the Turkey’s retail banking customers.
About Mitsubishi Corporation
Mitsubishi Corporation is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.