On November 22, 2022, Airtel Payments Bank announced to launch of a new system i.e. Face Authentication (Face Recognition) -based computer technology for the account opening process for customers. The Payments Bank said the facility would further ease account opening, making it seamless and convenient for new customers.
Airtel Payments Bank is the first Payments Bank in the country to offer this facility. The Payments Bank said the new facility would help business correspondents (BCs) of the bank to open an account just by undertaking face authentication through electronic know-your-customers (e-KYC).
The authentication is processed using a newly developed mobile application by the Unique Identification Authority of India (UIDAI), the Payments Bank said, adding that, the business correspondent will now only need a smartphone to open an account. The bank will make this facility available across all its 500,00 Banking Points by the end of this year.
How will it Work
Till recent times, customers who wished to an open account with Airtel Payments Bank, need to go through the Aadhaar-based OTP or fingerprint biometric authentication process. With the current facility, businesscorrespondents would use Artificial Intelligence (AI) / Machine Language (ML) based Face Authentication RD Application, which will help in the prevention of fraudulent activities by cross-checking an individual’s photo with the image captured in Aadhaar and will allow secure customer onboarding.
MD and CEO of Airtel Payments Bank said:
Anubrata Biswas, Managing Director and Chief Executive Officer of Airtel Payments Bank, said,” We believe in strengthening our bouquet of Digital Banking services with the use of the latest technology and provide our customers access to improved Digital solutions which are user-friendly. The 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 Financially inclusive banking in the country.”
Key points
According to the MD & CEO of the Bank, use Artificial Intelligence (AI) computer technology / Machine Language (ML) based Face Authentication (Face Recognition) RD Application
It will help in preventing fraud by matching the person’s photo to the image recorded in Aadhaar and enabling secure user onboarding.
Aadhaar-based OTP or fingerprint biometric authentication was previously required for customers to open an account with Airtel Payment Bank.
Earlier a customer is required to provide an OTP based on their Aadhaar or their fingerprint for biometric authentication to register an account with Airtel Payment Bank.
