Japan’s SMFG to establish biometrics company
10 January 2017 16:21 GMT

A Japanese financial group, Sumitomo Mitsui Financial Group, has revealed plans to work with a major Japanese IT company and an Irish company on a multimodal biometric security platform for smart devices.

SMFG is developing a mobile online payments system that will work across devices.

SMFG will have a more than 50 percent stake in the new company, and a Japanese major IT company is also considering investing in the new company, reports Japan News.

The new company will its target to include all internet services, and make them available for finance, mail order and other areas. The company will start the services as early as this spring.

Last year, SMFG signed an agreement with Sumitomo Mitsui Banking Corporation, Japan’s NTT Data and biometrics firm Daon, which has a headquarters in Dublin.

That agreement covered, “the commercialization of services offering individual identification platforms that use several different types of biometrics.”

“SMFG plans to offer a seamless environment for accessing various services by furnishing a user authentication intermediary function using biometric data to link client and service provider account information. This new service will be built using Daon’s IdentityX Platform,” writes the agreement.