Saudi based ATM service provider company Alhamrani Universal has signed a deal with Blockchain Platform ShoCard to develop its own Blockchain technology-based Biometric ATM detection system, According to a report published on Feb 27.
The Collaboration is mainly focused on Five-factor secure Authentication process and is going to help Alhamrani Universal and ShoCard to bring a new Secured authentication process in the market. The main propose of using this technology is to enable customers to use Facial recognization and Blockchain based apps for the identification process and to withdraw funds cardless.
The Newly developed program will help banks to identify customers with Blockchain technology without accessing bank’s database every time, Also as per the reports, the new technology will be installed on all the ATM’s across the region. According to the Founder of ShoCard, The New Technology will help banks to confirm customers identity securely and help customers withdraw money without much verification process.
The Alhamrani Universal was founded in 1981 and is one of the largest ATM Services provider in the region with more than 50 percent market share in the Country.
As we have read from the recent reports that Blockchain Technology is being used widely across many regions and business verticals for Identity management programs and systems, Recently Oracle Inc, announced that the company is expanding its commercial features on Its own developed Oracle Blockchain Platform, Which mainly includes Identity Management and Data integration And is going to eventually Enable its integration of Blockchain Technology with Transaction history and data resources.
Back in November 2018, The US-based tech Giant Microsoft Corporation released a Blockchain Based Technology for its Azure program and the technology is said to be a serverless development kit. Technology mainly contains services like Identity and data monitoring, messaging services and might be used to Develop blockchain based apps