Diasoft Platform Enhanced Its Diasoft Framework with the Face Recognition Technology by NtechLab

Wednesday, December 20, 2017

Diasoft Platform, a part of the Diasoft Group specializing in development of the system software for creation and running of high-load IT solutions, integrated the face recognition technology by NtechLab into its Diasoft Framework. Now the customers of Diasoft Framework – a platform for automation of business processes – can enjoy benefits of a unique complex service, which includes facial recognition and determining of people’s gender, age and emotions. New capabilities will help companies to effectively identify their customers, ensure security of transactions and allow personalizing the services.

The NtechLab algorithm is based on artificial neural networks and allows recognizing faces in a database of up to 500 mln images with the 80% accuracy. If the database contains 1,000 images, the accuracy of recognition increases to 97%. It takes only 0.5 second to search for a specific person among one milliard faces.

The facial recognition system can prevent malicious persons from accessing important transactions.

“Fraudsters will not be able to take a loan or make other transaction with an ID document belonging to another person. The customer service manager will receive a notification on a suspected mismatch and will be able to take additional security measures. The system also helps to investigate incidents, log the staff work time and check reliability of employees”, commented Michail Ivanov, CEO, NtechLab.

The face recognition function is also used to personalize services. The system identifies customers when they approach the company, which allows the company employees to offer them the most relevant products and services.

“The new function of Diasoft Framework is aimed at businesses that have branch networks. Customer identification helps companies all around the world – first of all, from the financial services and retail industries – to increase their sales. We enhanced functional capabilities of our framework, so that our customers could also improve their services”, said Konstantin Varov, Managing Director, Diasoft Platform.

Diasoft Platform is a part of the Diasoft Group, the leading provider of cutting-edge software solutions for the global financial services industry. Diasoft Platform specializes in development of software solutions used to create and run modern IT systems. The Diasoft Framework system helps to make the development of modern business applications faster and cheaper.

NTechLab was founded in 2015. The company focuses on creation of face recognition algorithms based on the most advanced techniques in the area of artificial neural networks. The NtechLab technology can be applied in different industries, including the retail trade, bank services, security, entertainment, etc. In November 2017, the U.S. Intelligence Advanced Research Projects Activity (IARPA) recognized the NtechLab algorithm to be the fastest and the most accurate in the word.

About Diasoft: Since 1991 Diasoft has been providing cutting-edge financial software solutions supporting all aspects of retail, wholesale and universal banking, financial market services, and insurance business. The company’s main offering to the financial market is FLEXTERA — a SOA-based universal system comprising a comprehensive suite of modules for front-to-back automation of modern financial services.

The FLEXTERA’s functional scope covers the following areas of financial business:

·         Back Office and Core Banking operations including daily banking transactions processing; product and service management; BI, accounting and reporting;

·         Multichannel Front Office operations and client management;

·         Middle Office risk management and decision making.

The modern technological principles lying at the core of all FLEXTERA solutions in combination with their broadest functionality provide our customers with limitless opportunities for their business development in accord with market trends and clients’ requirements.