Customers are increasingly visiting bank branches for biometric verification ahead of a new regulation that requires facial recognition by January 1, 2025. The influx includes many elderly clients facing challenges with online methods. While online verification involves logging into banking apps and using NFC technology, banks are accommodating in-person updates and extending hours to assist clients. Experts recommend biometric verification for enhanced security, highlighting the necessity to protect sensitive data.
HCM CITY — As the deadline for new banking regulations approaches, customers are increasingly visiting bank branches for biometric verification instead of opting for online methods. The new regulation, mandated by the State Bank of Vietnam, requires customers to undergo facial recognition biometric verification by January 1, 2025, to avoid losing access to electronic banking transactions.
The weekend of December 28-29 saw a significant influx of customers at transaction offices in Ho Chi Minh City, notably among the elderly who often experience technical difficulties, as well as those without updated identification cards. For instance, 67-year-old Vũ Ngọc Phát from Gò Vấp District mentioned his limited experience with technology led him to seek in-person verification to ensure he does not face banking service disruptions.
Banks have urged clients to complete their biometric verification procedures by December 31, 2024, to avoid any interruption in online banking services. For foreign clients lacking chip-based identification cards, bank staff are available to assist with the biometric registration process directly at the branches.
To complete the biometric verification online, customers must log into their banking applications, select the update information feature, and follow prompts to scan their face and identification card while utilizing NFC technology. Completing this process also involves OTP verification to ensure the security of the transaction.
However, many older clients are struggling with online updates, prompting banks to offer alternatives such as in-person verification using NFC readers at their branches. To further support customers, banks have set up hotlines and staff to provide round-the-clock assistance. In addition, major banks like Vietcombank and BIDV have extended operational hours, including weekends, to meet the demand for biometric verification.
Experts suggest that while traditional authentication methods are increasingly susceptible to cyber threats, biometric verification provides a unique and secure alternative. They emphasise the need for robust security measures to protect sensitive biometric data from potential cybercriminals.
The new regulation introduced by the State Bank of Vietnam aims to enhance security in electronic banking through mandatory biometric verification. This process includes facial recognition and requires all customers to update their biometric data, ensuring they can conduct transactions securely after the deadline. Banks are prepared to assist customers by extending branch hours and providing hotlines for support, acknowledging that many individuals, particularly the elderly, may find the online process challenging. The shift towards biometrics is a response to vulnerabilities in traditional verification methods, which have proven inadequate against cyber threats in recent years.
In summary, the upcoming regulation necessitates that all customers complete biometric verification to maintain access to electronic banking. While many customers are opting for in-person verification due to challenges with online processes, banks are adapting to meet client needs through extended hours and enhanced support services. Experts advocate for biometrics as a more secure method of authentication, emphasizing the importance of protecting this sensitive data against cyber threats. The successful implementation of this new regulation hinges on customers completing their verification procedures before the deadline.
Original Source: vietnamnews.vn
