iProov face biometrics deployed in OCBC ATMs in Singapore pilot

550 face biometrics ATMs will gradually be introduced throughout 2021
iProov face biometrics deployed in OCBC ATMs in Singapore pilot

Singaporean Bank OCBC has introduced face biometrics to eight of its ATMs to trial the authentication method for a larger roll-out planned throughout 2021. The bank is using technology developed by face biometrics company iProov and the biometric database accessed through Singapore’s National Digital Identification (NDI) platform to verify and authenticate users, writes FinNews.

Currently, users can visit any of the eight machines to check their account balance using their face biometrics. Once the program is expanded to OCBC’s 550 ATMs, customers can also withdraw cash.

The move combines Singapore’s growing appetite for digital services with the population’s continued use of cash transactions, the report says. According to OCBC, digital adoption has grown by 40 percent among its customer base between 2019 and 2020. Similarly, the bank reported an 88 percent increase in QR code-based cash withdrawals. Facial recognition is promised to ease these transactions as users no longer have to worry about carrying a physical card in their wallets.

The inclusion of iProov’s biometric technology was confirmed in a LinkedIn post by CEO Andrew Bud.

OCBC Consumer Financial Services Singapore Head Sunny Quek wrote, “We’re launching face verification for banking transactions so customers now have a secure alternative to ATM cards when accessing our ATMs. Face verification will be rolled out first for account balance enquiries, and then progressively made available to our entire ATM network from June for cash withdrawals.”

He added that 80 percent of OCBC customer transactions are balance enquiries and cash withdrawals, “and already, many of our customers have embraced QR code cash withdrawals without having to use an ATM card, so I believe this will truly add that level of convenience to more customers as they access our banking touchpoints. Congratulations to the team and to GovTech Singapore for the collaboration and partnership.”

Related Posts

Article Topics

 |   |   |   |   |   |   |   |   | 

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Research

Biometrics White Papers

Biometrics Events

Explaining Biometrics