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On the bleeding edge of fraud detection, some Chinese banks are scanning customer facial expressions (with tech developed by Ping An) to better predict malevolent behavior. Ping An's tech identifies 54 brief involuntary facial expressions and models their correlation to fraud.
Lee Yuansiong, one of Ping An’s deputy chief executives, said: “We use micro expression recognition technology to review loan applications. It captures subtle changes in customers’ facial expressions which help to identify and warn against fraud risks.” He added: “We’ve reduced credit losses by 60 per cent using this technology. It is more accurate than other approaches to fraud detection.” The company does not use micro-expressions alone to decide whether or not to lend money. However, if the technology spots something amiss, the client will be flagged for extra investigation. Ping An is not the only company experimenting with the technology.
https://www.ft.com/content/4c3ac2d4-d865-11e8-ab8e-6be0dcf18713
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