Banks in Thailand have been allowed to use biometric facial recognition to authenticate customers for remote account opening.
The Bangkok Post reports six banks in the country – Kasikornbank, Bangkok Bank, Siam Commercial Bank, Bank of Ayudhya, TMB Bank and CIMB Thai Bank – have been authorised by the Bank of Thailand to perform electronic Know Your Customer (eKYC) checks with facial recognition.
Siritida Panomwan Na Ayudhya, Bank of Thailand Payment Systems Policy and Financial Group Assistant Governor, explains that banks are now able to verify customers’ identities through the National Digital ID platform.
This reduces paperwork and eliminates the need to visit a branch in-person.
Siritida says biometric verification could reduce identity theft and fraud.
According to Siritida, the central bank will assess the service’s performance before expanding to a broader scale.
The central bank will encourage commercial banks to apply e-KYC to other financial services and allow non-bank financial institutions to adopt the technology, she added.
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