Standard Chartered Bank to roll-out touch and voice technology in Pakistan by the end of 2016

Standard Chartered Bank will be rolling out biometrics technology including voice and fingerprint validation across Middle East, Africa and Asia. The notion of this technology is to ensure secured banking including in Pakistan by the end of 2016.

By using their unique fingerprints and voice, clients would be able to access their bank account balances, cards and investments. The facility would be made available to more than 5 million clients. In a statement, Standard Chartered announced that this is the most extensive roll-out of fingerprint biometric technology. They also claimed that this is a first in most markets by any international bank.

Standard Chartered’s CEO of Retail Banking, Karen Fawcett, stated:

“Fingerprint and voice biometric technologies give our clients more convenience and security when they want to access their bank balances, cards and investments, wherever they are and whenever they want. We’re bringing the latest digital technologies to all our markets so that we can offer easy, convenient and secure banking to our clients”

Features of touch login and voice technology

1- Fingerprints will be used to verify identity which will make it more secure than username and password.
2- Enhanced mobile banking security
3- Through the use of app, clients would be able to access Bank’s full range of mobile banking services
4- Clients can check transactions, pay bills, and transfer money by using a registered fingerprint instead of ID and password

One of the key features of voice technology is enhanced and secured phone banking security. Voice biometrics uses clients’ unique voice to verify identity, making it more secure than username and PIN logins.

Touch ID is available on Apple iOS devices with Touch ID sensors (iOS 9.0.2, iPhone 5S, iPad Air 2, Mini 3 and later releases). On the other hand, touch login is available on Samsung Android devices with fingerprint sensors (Android version 5.1.1, Samsung S6, Samsung Note 5 and later releases).

Biometrics technology is set to hit Pakistan

Standard Chartered focuses on secured banking pattern on advanced technologies. Not too long ago, the bank announced the launch of video banking facility in 9 markets.

The biometrics technology is set to hit Pakistan by the end of this year. The technology is also going to be available in 15 other markets of Asia, Africa and Middle East.

The touch facility is currently available in India, Singapore and UAE. However, these markets will be getting voice verification with the current roll-out. Touch login and voice technology will launch in China, Hong Kong, Malaysia, Pakistan and the African markets.

Earlier this year, the bank launched Retail Workbench in 8 new markets including Pakistan. This digital ‘bank on an iPad’ sales-and-service tool lets clients open an account in any location. Moreover, it makes banking services such as loan approvals and credit card issuance fast, simple and completely paperless.

Do you think the number of fraudulent activities will decline with the launch of biometrics technology in Pakistan?

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

To Top