Airtel payments bank has launched face authentication-based savings account opening for customers, becoming the first payments bank to offer the service.
Face authentication based e-KYC is available at 500,000 banking points of Airtel Payments Bank in India.
The authentication is processed using a new app from the Unique Identification Authority of India (UIDAI). As a result, the business correspondents at the banking points will only need a smartphone to open a bank account for customers.
“We at Airtel Payments Bank believe in strengthening our bouquet of digital services with the latest technology and provide our customers access to improved digital banking solutions which are user-friendly. This safe and secure authentication process has been made possible by the efforts of the UIDAI, which is a huge step in furthering the cause of inclusive banking in the country,” said Anubrata Biswas, MD & CEO of Airtel Payments Bank.
his KYC facility uses AI/ML based Face Authentication RD Application, which helps in the prevention of fraudulent activities by cross-checking individual’s photo with the image captured in Aadhaar and allows secure customer onboarding,” he added.
Previously, users had to authenticate usinf Aadhaar-based OTP and fingerprint biometric authentication to open an account.
Airtel’s banking service recently integrated with the National Payments Corporation of India’s (NPCI) – National Financial Switch (NFS) to facilitate Micro ATM transactions for debit card users residing beyond the metro and tier 1 cities in India.