The fifth largest bank in Thailand deploys facial recognition

Tuesday 12 March 2019 11:19 CET | News

Bank of Ayudhya, commonly referred to as Krungsri, has introduced biometric facial recognition technology for verifying the identities of people as they open a deposit account.

This news follows a report last month which said that 10 participants testing facial recognition for eKYC checks in a Bank of Thailand test were ready to exit the regulatory sandbox. The use of facial recognition for eKYC requirements was approved by Thailand’s cabinet in 2018 to promote financial inclusion.

The biometric technology is now available for customers visiting Krungsri branches and facial recognition for eKYC will be deployed to open accounts on mobile devices by the end of the Q2 of 2019.

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Keywords: Bank of Ayudhya, Krungsri, facial recognition, eKYC, biometrics
Countries: World

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