Airtel Payments Bank to provide Face Authentication-based savings bank account opening for users on the Airtel Thanks App. This step is another testimony towards providing the finest digital banking experience. The service, which will be available by the end of 2023, would allow users to register an account with the bank online, utilising face biometrics as e-KYC, within minutes from anywhere in the country. Airtel Payments Bank is the country’s first bank to test this feature on its mobile app.
Users will be able to open an account digitally simply by completing facial authentication e-KYC. The authentication would be carried out through the Unique Identification Authority of India’s (UIDAI) mobile application. At the Global Fintech Fest, the Bank highlighted, in collaboration with UIDAI, how simple and secure this new account opening journey will be.
Anubrata Biswas, MD & CEO of Airtel Payments Bank said, “At Airtel Payments Bank, we leverage the latest technology to enhance our digital services, ensuring that our banking solutions are user-friendly. The face authentication for e-KYC is secure, fast, and paperless, making the digital account-opening journey seamless. Furthermore, this technology will use India’s Digital Public Infrastructure, reducing dramatically the cost to serve and increasing access, thus furthering Digital India. We’re confident that our customers will benefit from this service, and we’re thankful to the Unique Identification Authority of India for their continuous support and partnership with us to make this India-first facility available.”
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This KYC facility employs an AI/ML-powered Face Authentication RD Application, which aids in the prevention of fraudulent activities by cross-referencing an individual’s photo with the image collected in Aadhaar and enables secure customer onboarding.
Previously, Video KYC was required if a consumer wanted to open an account with Airtel Payments Bank digitally using the Airtel Thanks app. The bank has already implemented e-KYC based on Face Authentication at its banking locations.
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