Timor-Leste to launch iris biometrics payments with IrisGuard, EyeTrust partnership
Biometric technology from IrisGuard and EyeTrust LDA is bringing iris authentication and payments to Timor-Leste which will allow those enrolled to use ATMs and conduct in-branch business with nothing but their eyes. The ultimate aims are to make financial services more accessible, contactless and faster and also to improve government welfare distribution.
BNCTL (Banco Nacional de Comércio de Timor-Leste) has signed an agreement with IrisGuard and its implementation partner EyeTrust LDA to deploy IrisGuard’s EyePay Network payment platform.
Mr. Brígido De Sousa, CEO of BNCTL, said, “Working with EyeTrust and integrating with IrisGuard’s innovative EyePay Network will provide us with an opportunity to serve more customers who currently fall outside of the traditional banking system with an alternative and safe solution for customer verification, whilst cutting the time in providing services both at counters and ATMs. Digital transformation is a key focus for BNCTL Timor-Leste and we are delighted to be able to lead with innovation by implementing IrisGuard’s cutting-edge technology.”
A spokesperson from IrisGuard told Biometric Update that Timor-Leste has recently been seeing fairly significant growth in the use of e-wallets and “importantly the link between e-wallets and bank accounts/ATMs so that customers are able to transfer money between the two and there has been a noticeable focus on serving those in rural areas.”
More work is required from the stakeholders involved than simply rolling out a new biometric technology, according to IrisGuard: “the aim is to include more of those unbanked into this system, [and so] financial service providers need to work more closely with the education sector and this is how the partnership of the bank, the government and the private sector technology provider has formed.”
IrisGuard has picked up a GSMA GLOMO award for its iris biometrics payments solution earlier this year.
ATMs | banking | biometrics | digital identity | digital wallet | East Timor | financial services | identity verification | iris biometrics | iris recognition | IrisGuard | KYC | secure transactions