Pakistan has become one of the first countries in the world to introduce contactless biometric verification for banks. Pakistani banks can now verify the biometrics of account holders remotely through a banking app.
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The National Database and Registration Authority (NADRA) launched contactless biometric verification at the request of the State Bank of Pakistan (SBP). This makes Pakistan one of the world’s first countries to implement such technology on a national scale.
According to a statement issued earlier this week, the new verification technology was launched during SBP Governor, Dr. Reza Baqir’s visit to NADRA headquarters. For now, the SBP has launched the biometric verification service for five banks as a test run. Once the necessary tests and formalities are complete, the SBP will extend this technology to other banks and fully SBP licensed electronic money institutions (EMIs).
As mentioned before, Pakistani banks will now be able to use smartphone apps to capture and verify biometrics of account holders from their homes.
During the launch ceremony, the SBP Governor said:
Early adoption of this new technology has endless potential to reach the under-serviced population while it extends great benefit to financial sector by reducing the operational costs, aiding in releasing the pressure on banks, which have been negatively impacted during the pandemic.