|Israel diamond complex skyline|
IDE President Shmuel Schnitzer said in a press release: "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.
To participate in the experimental phase, people need to register, have their picture taken and give their name and IDE badge number, a process which takes less than a minute. The system will automatically recognize people going into the rough trading hall. Members who have undergone the registration process are asked to look at the device that is set up at the entrance until a green light comes on.
The advanced facial recognition system, developed by Israeli start-up FST21 under the leadership of former Military Intelligence head Aharon Ze'evi Farkash, is considered one of the most advanced systems of its kind in the world.