Pakistan introduces contactless biometric verification service for banking
For the banking and payments business, National Database and Registration Authority (Nadra) has introduced a contactless biometric verification service.
The service was introduced during the visit of the State Bank of Pakistan (SBP) Governor to the nadra headquarters.
Pakistan becomes the first country globally to install this technology.
Banks will make use of the digital app on cellphones seizing and verifying biometrics of the potential account holders from their houses. With the launch of this digital technology, the banking organization will take a paradigm shift, adding remote biometric capturing technology to the digital banking system.
The service is firstly extended to five banks chosen by the SBP for a pilot project. Other banks and fully SBP-licensed EMIs (Electronic Money Institutions), after finishing of required formalities, will also be included in the pilot run.
The SBP governor said: “This new mobile-based verification service for banks and Electronic Money Institutions is in line with SBP’s financial inclusion initiative while creating opportunity for rapid on-boarding using remote identification and e-KYC features.”
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