The Most Reliable and Secure Contactless Solution to Date
UNION CITY, Calif., Oct. 1, 2024 /PRNewswire/ -- Anviz, a brand of Xthings, a global leader in intelligent security solutions, announces the upcoming release of its latest access control solution, the M7 Palm, equipped with cutting-edge Palm Vein Recognition technology. This innovative device is designed to provide superior accuracy, security, and convenience to high-security and privacy-sensitive environments in industries such as banking, data centers, laboratories, airports, prisons, and government institutions. Launching globally today, Anviz is gearing up to revolutionize the way users interact with access control systems.
The M7 Palm Vein Access Control Device offers a seamless access experience, allowing users to unlock doors with a wave of the hand. Using Palm Vein Recognition, a top-tier biometric security method, it addresses the limitations of facial and fingerprint recognition by providing a more secure, non-invasive, and user-friendly solution.
Palm Vein Recognition captures the unique pattern of veins inside a person's palm using near-infrared light. Hemoglobin absorbs the light, creating a vein map, which is converted into a secure digital template through advanced algorithms, ensuring accurate identification. Unlike facial recognition, which may raise privacy concerns, or fingerprint scans, which can be affected by wear, palm vein recognition is discreet, reliable, and harder to forge. Its non-contact nature also makes it more hygienic, ideal for environments with strict health protocols.
The M7 Palm Vein Access Control Device leverages this advanced technology to provide a seamless and secure user experience. With a False Rejection Rate (FRR) of ≤0.01% and a False Acceptance Rate (FAR) of ≤0.00008%, the accuracy of the system far exceeds that of traditional fingerprint or face recognition methods, offering a higher level of protection for critical infrastructure and sensitive information.
The M7 Palm Vein Access Control Device stands out for its numerous advantages, making it an ideal solution for high-security environments. The benefits of using palm veins are as follows:
Moreover, the features of the M7 Palm are designed by meticulously polishing the needs of the users:
As security becomes a growing priority, demand for biometric solutions like palm vein recognition is surging. By 2029, the global market for palm vein biometrics is projected to reach $3.37 billion, with a CAGR of over 22.3%. The Banking, Financial Services, and Insurance (BFSI) sector is expected to lead this growth alongside military, security, and data center applications.
"As a milestone product in the biometrics and security industry, till next June, Xthings will work with more than 200 partners to bring the product to markets such as North America, Western Europe, the Middle East, and Asia Pacific, empowering the clients to enjoy a safer and more convenient experience. $3.3 Billion market share is there, let's work together!" said Peter Chen, Product Marketing Manager. [To talk about partnership]
Though still in the early stages of market adoption, Anviz is committed to advancing palm vein technology. With limited competition, the M7 Palm Vein Access Control Device is poised to make a significant impact. Anviz continues to innovate, delivering smarter, safer, and more convenient security solutions globally.
About Anviz
Anviz, a brand of Xthings, is a global leader in converged intelligent security solutions for SMBs and enterprise organizations. Anviz offers comprehensive biometrics, video surveillance, and security management systems powered by cloud, Internet of Things (IoT), and AI technologies. Anviz serves various industries, including commercial, education, manufacturing, and retail sectors, supporting over 200,000 businesses in creating smarter, safer, and more secure environments.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Anviz Unveils M7 Palm Access Control Device
KUALA LUMPUR, Malaysia, Sept. 30, 2024 /PRNewswire/ -- Hong Leong Bank ("HLB" or the "Bank") has received 4 industry awards this year, reinforcing its position as a leading financial institution in Malaysia. These accolades span SME banking, innovative financial products and even financial inclusion initiatives, reflecting the Bank's dedication to providing an end-to-end banking experience that offers innovative, customer-centric financial solutions, while leveraging digital innovation to uplift communities.
Best SME Bank in Malaysia
HLB has been named "Best SME Bank in Malaysia" at the Euromoney Awards for Excellence 2024, and for the third consecutive year at the Asian Banking & Finance ("ABF") Retail Banking Awards 2024. This achievement is attributed to an impressive 10.4% year-on-year ("YoY") increase in its SME loan/financing portfolio, reaching RM33 billion in the past financial year. The Bank's community banking initiatives also saw an outstanding 12.6% YoY growth, nearly double the industry average.
The Bank's commitment to SMEs goes beyond providing loans and financing. It offers a fully-digital onboarding experience where SME customers can apply for banking products and services from their own premises, eliminating the need for business owners to open accounts at a physical branch. With this, HLB provides a diversified suite of online banking capabilities, including enhanced features for faster trade processing, an optimised loan origination system that expedites loan approvals. HLB also has an extensive network of Community Business Managers ("CBMs") and Cash, Trade & FX ("CTFX") specialists which are embedded within the nationwide SME community, equipped with the solutions and insights needed to provide unparalleled support to SMEs and business owners.
Best Deposit Product in Malaysia
In line with its commitment to optimising customer experience through innovative banking solutions, HLB's Pay & Save Account/-i ("Pay & Save") has been named "Best Deposit Product in Malaysia" at The Asian Banker Excellence in Retail Finance and Technology Innovation Malaysia Awards 2024.
The Pay&Save account provides multi-currency flexibility and offers higher interest/profit on everyday transactions. The account is designed for a seamless user experience, leveraging on HLB Connect and an integrated multi-currency debit card. Customers can manage finances in both Malaysian Ringgit (MYR) and 12 major foreign currencies, convert currency easily at competitive rates, and spend and withdraw foreign currencies abroad while receiving FOREX alerts at their preferred rates, a testament to the Bank's commitment to designing financial solutions that cater to its customers' diversified lifestyles.
Best Financial Inclusion Initiative
HLB's commitment to customer-centricity and uplifting the community is evident in its financial inclusion program, HLB @ Kampung, which equips underserved communities with digital payment tools and online banking infrastructure. Following its successful launch in Sekinchan, Selangor in 2023, HLB has further initiated 71 HLB @ Kampung projects that look to support the digital transformation of rural towns across Malaysia, turning them into a Cashless Kampung. On the back of the program's success, the Cashless Kampung program was internationally-recognized as the Best Financial Inclusion Initiative at The Asian Banker Excellence in Retail Financial Services International Awards 2024.
Built Around You
Kevin Lam, Group Managing Director and CEO of HLB commented on the widespread recognition of HLB's banking excellence.
"As a financial institution, we constantly look to reimagine our digital banking products and services, ensuring that we truly design them to provide a seamless banking experience for our customers. These awards are not just a reflection of the relentless dedication and hard work from our team at HLB, but it also underscores our pursuit of innovation and customer-centricity. From designing a multi-currency, digitally-enabled savings account, to enhancing our SME banking capabilities and uplifting communities with digital innovation, we look to provide financial solutions and services that are integrated into our customers' diverse lifestyles, becoming a bank that is truly Built Around You."
HLB has also recently upgraded their HLB Connect mobile banking app, further enhancing and streamlining the user experience when it comes to digital banking. The new app comes with a new and improved Forex Rate converter interface, which complements the multi-currency Pay & Save account by making it easier for customers to calculate conversion rates. Besides that, the app now allows for auto-detect biometric settings, where users can use their pre-set security settings on their mobile phones (biometrics for Android and Face ID for iOS) to unlock their HLB Connect app.
For more information about HLB's Pay & Save account, please visit:
https://www.hlb.com.my/en/personal-banking/deposits/savings-account/pay-and-save-account.html
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hong Leong Bank Picked Up Four Notable Wins at Recent Financial Industry Awards
