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April 19, 2021 04:45 pm

US Banks Deploy AI To Monitor Customers, Workers Amid Tech Backlash

Several U.S. banks have started deploying camera software that can analyze customer preferences, monitor workers and spot people sleeping near ATMs, even as they remain wary about possible backlash over increased surveillance, Reuters reported Monday, citing more than a dozen banking and technology sources. From the report: Previously unreported trials at City National Bank of Florida and JPMorgan Chase & Co as well as earlier rollouts at banks such as Wells Fargo & Co offer a rare view into the potential U.S. financial institutions see in facial recognition and related artificial intelligence systems. Widespread deployment of such visual AI tools in the heavily regulated banking sector would be a significant step toward their becoming mainstream in corporate America. Bobby Dominguez, chief information security officer at City National, said smartphones that unlock via a face scan have paved the way. "We're already leveraging facial recognition on mobile," he said. "Why not leverage it in the real world?" City National will begin facial recognition trials early next year to identify customers at teller machines and employees at branches, aiming to replace clunky and less secure authentication measures at its 31 sites, Dominguez said. Eventually, the software could spot people on government watch lists, he said. JPMorgan said it is "conducting a small test of video analytic technology with a handful of branches in Ohio." Wells Fargo said it works to prevent fraud but declined to discuss how.

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