Cloud and Big Data processing capabilities are further fueling innovation in financial technology typified by the myriad startups eschewing FICO scores in favor of new proprietary scoring algorithms that leverage the exponential growth in data available to forecast credit worthiness.

FORBES: Why The Financial Technology Revolution Is Only Just Getting Started

With further modifications to the system's image-processing software, the team said it believed the same technology could be used to measure an object's speed and direction.

BBC: Long-distance 3D laser camera unveiled by Edinburgh team