Sberbank Inks Deal with Biometric Startup VisionLabs

Sberbank of Russia acquired a 25% stake in a biometric startup, the bank announced today.

The startup is called VisionLabs, and focuses on facial recognition. Terms of the transaction were not disclosed, but Sberbank’s total stake in the company comes out to 25.07%.

The company’s founders, along with VC Sistema_VC, own the remaining stake.

In a Security Document World article, Deputy Chairman of the Executive Board of Sberbank, Lev Khasis, said:

Technology based on the VisionLabs platform is a world leader, both in terms of international testing and the results of extensive internal tests and pilots carried out by Sberbank.

Read more at Finextra and SecurityDocumentWorld.