Israeli Bourse Starts Facial Recognition System Pilot SchemeMarch 04, 14
IDE President, Shmuel Schnitzer said, "The exchange is continuously looking into new technologies that can strengthen even further the tight security systems that already exist as befits the status of one of the safest business centers in the world."
The aim of the pilot phase is to identify exchange members entering the rough diamond hall from the Diamond Tower building. During the trial, no physical barrier is being placed at the entrance to the hall and an IDE security team is responsible for checking and dealing with people wishing to enter the hall.
The current phase is preparation for a more widespread implementation of the system that is likely to be carried out during the US/International Diamond Week at the bourse next month which will cover the three entrances to the hall as well as guests, visitors and buyers from abroad.
The advanced facial recognition system, developed by Israeli start-up FST21, is considered one of the most advanced systems of its kind in the world due to its ability to recognize authorized visitors while they are moving and without having to make their entry dependent on biometric scans which usually causes delays, the exchange said on its website.
"The system has done away with the need for human detection capabilities, and creates an optimal balance between providing different permission options when entering secure areas and visitor convenience. The system uses multiple recognition technologies in parallel, using common hardware components available on the market today, including surveillance cameras, without requiring applications or adding hardware.
"The system is currently used by many institutions and bodies in Israel and abroad, including Ben Gurion Airport, schools and campuses in the United States, industrial buildings, and private homeowners who need advanced security systems, among others."