MCB Islamic Bank offering Diebold Nixdorf’s biometric ATMs in Pakistan

Pakistan bank MCB Islamic Bank Limited has partnered with German fintech firm Diebold Nixdorf Technology to provide biometric-enabled cash dispensing technology and software to the country’s unbanked population. The new technology, which features biometric authentication and is powered by Diebold Nixdorf’s software, will enable the bank to drive connected commerce, improve the consumer experience, and deliver a seamless experience across its entire network. “As financial institutions expand their reach within the region, we will continue to serve as a true

Hong Kong startup Neat approves prepaid cards through facial recognition

Hong Kong startup Neat recently launched prepaid credit cards that enable users to register instantly through facial recognition technology, according to a report by South China Morning Post. Launched in early December, Neat’s prepaid credit cards are designed specifically for students and first-time jobholders with limited or no credit history who can’t get approved for a credit card from traditional financial institutions. “We are targeting the millennial demographic, students or young professionals who … don’t necessarily qualify for a credit

India working to replace cash with biometric e-payment

The chief executive of India’s leading economic development agency told attendees at the World Economic Forum in Davos that the country could introduce biometric payments within three years, thereby eliminating the need for cash and typical electronic payment methods, including: automated teller machines, along with debit and credit cards. Amitabh Kant, National Institution for Transforming India, was quoted in a CNN news affiliate report as saying that such now commonplace e-payment methods may be “totally redundant” by 2020. According to

HSBC appoints cybercrime-focused technology advisory board

HSBC has appointed a new technology advisory board of senior CEOs from around the world who will be focusing on how the bank can benefit from technological innovation, fight against cybercrime, and ultimately leverage its global infrastructure. The board comprises of Transmit Security CEO Mickey Boodaei in the role of cybersecurity expert, Token CEO Steve Kirsch as open banking expert, Ripple executive chairman Chris Larsen as expert in blockchain, Spark Capital and Silicon Valley Venture Capital general partner Megan Quinn,

Touché launches biometrics-based loyalty and payment platform

Touché released what it calls the world’s first biometric loyalty and payment platform, eliminating the need for physical payment or loyalty cards. Manufactured in Singapore, Touché is a rectangular device comprised of a magnetic stripe reader, chip reader, and a 2.2-inch biometric fingerprint sensor that is certified and capable of multiple payment options. According to the company, the fingerprint sensor delivers the highest resolution in the market to detect two fingers for efficient payments. After an initial enrollment, customers can

BNP Paribas Wealth Management adds Daon-based biometric authentication product

Financial institution BNP Paribas Wealth Management has introduced a new service which enables customers to log into their accounts and perform transactions using biometric authentication, according to a report by Banking Technology. Using biometric authentication technology supplied by Daon, myBioPass enables customers to log into their accounts and perform various transactions. Clients can log into myWealth and Web Banking on their tablet by taking a “selfie” and using their smartphone as a key. In addition, clients can validate transactions through

Secure mobile banking with biometrics

This is a guest post by David van Damme, responsible for partnerships and business development at bunq‎. The mobile industry is constantly evolving, particularly when it comes to what we are able to do with our devices. No trend highlights this better than the innovations occurring in mobile banking and fintech. However, the biggest challenge facing companies in mobile banking is the balance between offering a secure and simultaneously user friendly experience. Dutch-based, mobile-only banking firm bunq is on the forefront

Diebold Nixdorf Technology develops biometric authentication solution for Al Rajhi Bank

Saudi Arabian financial institution Al Rajhi Bank recently partnered with German Fintech firm Diebold Nixdorf Technology to develop a biometric-enabled self-service solution. The biometric solution is the first to enable debit card printing via biometric authentication at a self-service terminal in the Middle East, according to the companies. One-hundred terminals have been deployed with the service at Al Rajhi Bank’s branches through a local distribution partner, Alhamrani Universal Company. “We are delighted to be the first bank to introduce this unique

Bharti Airtel launches Aadhar-based digital banking service in India

Indian telecommunications firm Bharti Airtel officially launched Airtel Payments Bank last week in India, following a series of successful pilot programs in Rajasthan, Telangana and Andhra Pradesh, according to a report by Asian News International. Airtel Payments Bank takes a paperless banking approach through Aadhaar-based e-KYC, enabling any individual with an Aadhaar card, PAN card or smartphone with Internet connectivity to access the digital banking service. The company has also updated its My Airtel app with a Payments Bank option

Spice Money launches Aadhaar-enabled payment system

Spice Money, the domestic remittance service from Spice Digital, is now processing payments through the Aadhaar Enabled Payment System (AEPS), according to a report by Medianama. The move follows Spice Digital’s announcement in October that it has been authorized by the National Payments Corporation of India (NPCI) to offer AEPS services. The AEPS allows digital payments using the national Aadhaar number and biometric authentication. Users can perform financial transactions on a micro-ATM provided by a bank. At the time, Spice