Element to provide mobile biometrics for Indonesian bank for digital financial services
Element’s mobile biometric platform will provide customers of Bank Central Asia (BCA) with digital authentication in a pilot launched under a newly announced partnership. BCA will use Element’s software-based facial recognition for customer authentication and onboarding as one of its digital initiatives, in line with Indonesia’s digital financial services guidelines.
Indonesia has undergone a significant digital transformation over the past five years, according to the announcement, with bank account penetration in the world’s fourth most populous country increasing from 20 percent to 49 percent between 2011 and 2017. This increase among a population dispersed across roughly 17,000 islands was assisted by digital financial service, and is expected to continue. BCA is one of Southeast Asia’s largest banks, holding 19 million accounts.
“BCA’s reputation and success as one of the largest private banks of South East Asia is reflective of their technology innovation leadership, providing their customers with the highest quality products and services in digital banking,” says Element Head of Indonesia Rizki Suluh Adi. “By 2025, a projected 284 million Indonesians are estimated to have 410 million smartphone connections, enabling mobile banking to unlock the next breakthrough in digital financial services. We’re proud to partner with BCA to advance its digital initiatives and to move one step closer to building a frictionless future.”
Element provides its artificial intelligence-based biometric software to enable any mobile device with a camera to be used for customer onboarding processes in a seamless, convenient customer experience. The company also partnered with PSI to pilot a biometric system for community health workers late last year.
Trulioo and Refinitiv recently formed a strategic partnership to support financial inclusion with biometric customer authentication.