February 15, 2017 -
The Commonwealth Bank of Australia (CBA) reports that the 685 biometric authentication kiosks introduced in the last year by its South African subsidiary Tyme have processed 100,000 new customers in that country.
According to a report in iTnews, the bank claims the kiosks can process new customers in under four minutes by utilizing biometric authentication, and at a cost to the bank of just $4 per new customer.
The Android-based, wi-fi connected machines are about the same size as an automated airline check-in kiosk and are equipped with document and fingerprint verification capability, as well as a high-resolution camera. Once processed accounts can be used immediately.
The kiosks launched in May 2016. CBA did not say whether it intends to bring the machines to Australia.
Last year, SA Home Affairs Minister Malusi Gigaba said that allowing banks access to South Africa’s Home Affairs National Identification System (HANIS) potentially prevents a fraud loss of around $19M USD loss per month and could reach about $231M USD annually. The HANIS verification service is a public-private initiative that uses fingerprints to verify the identity of prospective and current clients and prevent identity fraud‚ irregular insurance claims and related crimes.