Santander Mexico biometric data collection initiative aims to enroll 3.7 million banking customers
For the first registration stage, the institution has set up a target of enrolling over 3.7 million customers to boost security in face-to-face operations and later in mobile and ATMS.
The biometric registration process was first rolled out on employees in February 2019, and Santander currently has installed over 9,900 devices in different branches and has trained over 9,200 employees across the country to use it.
Fingerprints and face geometry recordings will be collected and compared with the biometric data collected in national records to fully identify and authenticate individuals in banking operations.
The process is about seven minutes long. The client has to be present at the physical office, prove identity with the national voter registration ID validated by a scanner that checks security locks and holograms, provide fingerprints and facial scan.
The registered biometric information is used for face-to-face operations such as balance inquiry, withdrawal up to a certain amount or when opening an account.
The first stage will roll out through 2020. Santander has already enrolled 28,000 users and makes 42,000 biometric verifications every month for different operations. By incorporating mobile phones and ATMs, the bank expects to be verifying over 70 million transactions per year.
Over the next five years, Santander Mexico says it will be investing approximately 1bn pesos (US$53mn) on this initiative.