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KBank unveils face recognition technology for deposit account opening

KBank unveils face recognition technology for deposit account opening

WEDNESDAY, March 27, 2019

KBank has introduced face recognition technology to verify the identity of customers who open deposit accounts at branches. To enhance customer verification, KBank is in the process of linking their identity data across all banks and its digital platform, starting with deposit account opening.

The move is aimed at allowing customers to conduct transactions anywhere, anytime without having to visit a branch, and at creating new security standards for the digital era. The service is due to be rolled out on the digital platform by the third quarter of 2019. 
Silawat Santivisat, KBank senior executive vice president, said the new technology would help enhance security standards and precision in customer identity verification at branches, thus reducing identity theft in account opening.
KBank is developing the system with a goal of ensuring accurate and efficient identification, so that headshot and face recognition become standard procedures in carrying out transactions. By 3Q19, KBank plans to link its customer identity data with other banks to make transactions such as loan applications and a cross-bank account opening speedier and more convenient, via mobile digital channels instead of having to visit a bank branch. 
KBank also plans to integrate the system with government services via the national digital ID platform so that customers can verify their identities when using public services.