Banks are ready to deploy biometric authentication

VCN - According to Decision No. 2345/QD-NHNN dated December 18, 2023 of the State Bank, which will take effect from July 1, money transfer transactions over 10 million VND/time or over 20 million VND/day will require facial authentication. Accordingly, banks are urgently preparing to be ready to implement new regulations within the set deadline.
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Banks are ready to deploy biometric authentication
Customers register for biometric authentication at the bank. Source: Internet.

Rushing to collect customer data

In recent days, a series of banks have issued notices requiring customers to register biometric facial authentication information. Specifically, VPBank said that in compliance with Decision 2345/QD-NHNN of the State Bank on improving online transaction safety, from July 1, 2024, VPBank will deploy enhanced transaction authentication. on VPBank NEO uses Smart OTP combined with facial biometric data stored in the chip-embedded citizen identification card.

Accordingly, transactions on VPBank NEO that apply biometric authentication include: transfer/e-wallet over 10 million VND/transaction or total transaction value over 20 million VND/day; Payment transactions for goods and services through payment service providers and payment intermediaries from 100 million VND/transaction; international money transfer; transfer money in batches; Transaction for the first time via the VPBank NEO application or when changing the device to log in to the VPBank NEO account.

VPBank recommends that, to avoid transaction interruptions, customers proactively update their account information according to their chip-embedded citizen identification card before July 1. In addition, customers can change the method of receiving OTP codes to Smart OTP, ensuring that the phone they are using has NFC function.

Many other banks such as BIDV, Vietinbank, OCB, TPBank, Techcombank have also required customers to register for biometric authentication before July 1. A representative of OCB Bank's leadership said that OCB is currently collecting customer biometrics on both online and at-the-counter channels to be ready for the application of biometric authentication measures according to Decision 2345/ QD-NHNN. OCB OMNI digital banking platform has also prepared its infrastructure, system and fully met security solutions in online payments from July 1.

Agribank leaders also said that the bank is ready to apply face authentication regulations from July 1. Currently, Agribank is actively collecting biometric data of customers. In addition, in June 2024, the entire authentication system connected online with the Ministry of Public Security will also be put into operation by Agribank, authentication applications have also been completed to be ready to apply new regulations from July 2024.

Mr. Tu Tien Phat, General Director of ACB Bank also said that ACB has actively prepared for the implementation of biometric authentication from July 1 according to Decision 2345. Currently, ACB has almost completed the investment. Investing, preparing to post on the ACB Online platform and in early June began notifying customers to register to collect customer data, ensuring transactions are carried out in accordance with the provisions of Decision 2345.

Speaking more about this issue, Mr. Tu Tien Phat said that ACB and other banks have long prepared and continuously invested to ensure the safety and security of the transaction system. However, Decision 2345 is an upgrading step that the State Bank requires banks to take. Although this will cost money, it is well worth it because it will help ensure customer rights as well as improve the safety and security of transactions.

According to Mr. Phat, biometric authentication at ACB will be integrated into the system and connected to the Police Department for Administrative Management of Social Order (C06) under the Ministry of Public Security regarding population data. . During the first authentication, the customer must register for biometric authentication based on the chip-embedded citizen identification card, but in the following transactions, the customer only needs to authenticate his face to transact while still ensuring safety, security as well as customer experience.

Ready to deploy from July 1

Regarding the deadline for implementing biometric authentication from July 1, Mr. Phat said that the banking system will face two big challenges. First is the challenge related to time. Because banks have to collect information from a large number of customers in a short period of time, specifically at ACB there are up to 7-8 million customers. There may be some customers who have not yet registered so their transactions will be affected from July 1. To avoid this, Mr. Phat said, ACB will carry out strong communication so that customers can quickly update information on time.

The second challenge that Mr. Phat raised is the possibility that customers will encounter some confusion during the initial implementation of biometric authentication. "However, I think this will soon be overcome, because ACB always ensures the best experience for customers" - Mr. Phat said.

OCB's leadership representative also said that during the system building phase, OCB also encountered many difficulties due to the relatively short development time but the impact on many systems that needed improvement. However, OCB has focused on investing resources so the collection of customer biometric data was deployed early, helping to reduce overload and service disruption for customers on July 1. . In addition, during the process of implementing biometric registration for customers, OCB also noticed difficulties in some customers using mobile devices that do not support NFC to read the chip of the CCCD card, because customers will need to go to the bank's branches and transaction offices for support.

Agribank leaders also said that for customers who have not registered for biometric authentication before July 1, transactions will not be much affected. Because the procedure completion process only takes a few seconds, it does not affect the customer's digital transaction experience, nor does it disrupt the bank's service provision.

By Nguyen Hien/ Huu Tuc

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