MAS identifies good industry practices used to guard against fraud, impersonation, and document tampering in a non-face-to-face setting.
February 15, 2022NPCI has commenced phase one tests of using facial authentication in non-financial transactions with ICICI Bank, Yes Bank, RBL Bank and Fino Payments Bank.
October 8, 2020BOT has issued new guidelines on the use of biometric technology in financial services, and granted approval to five banks to use facial recognition in account opening.
July 26, 2020Financial institutions have the freedom to decide on any combination of methods to identify and verify customers through e-KYC, but prior BNM approval is required.
July 1, 2020The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.
June 16, 2020Six banks will open online deposit accounts digitally, using facial recognition to verify customer identities against information held in the new National Digital ID platform.
February 7, 2020The guidelines set out principles for the use of facial recognition technology in payments, covering user consent and the collection, storage and use of facial data.
January 23, 2020The new gateway will reduce the setup costs required to access the NDID and enable financial firms to enable full digitisation of customer onboarding more quickly.
July 22, 2019Bank of Ayudhya has become the first bank in Thailand to introduce facial recognition in account opening, which it says will enhance security and prevent fraud and identity theft.
March 12, 2019Asian regulators, former central bankers and government officials establish information exchange alliance to better regulate fintech, digital payments and cryptocurrency developments in the region.
May 10, 2018