Biometric data center, a quick step of Vietnamese banks

Without waiting for new regulations on biometric authentication to be issued to ensure the safety and security of personal financial transactions, biometric technology in the banking and finance industry has been used for many years. achieved many outstanding achievements, not only applied to product development but also moved very quickly in creating sustainable values ​​for the future.

"Wave" of biometric applications for global finance

According to research by the Financial Services Center of Deloitte Auditing Company, by 2030, identity fraud - one of the most common fraud methods in the banking and finance sector - could cause losses. loss of up to 23 billion USD to the global economy. This alarming number requires many banks to develop more advanced security systems. From that urgent need, biometric technology is applied as a breakthrough security method with high accuracy.

In an Entrust year-end 2023 survey, this method quickly gained widespread acceptance due to its user-friendliness, with 72% of respondents feeling comfortable with banks using biometrics. their learning for security. Not only upgrading security, biometric technology is also a premise for big data analysis and management application services, providing support information for many other operations in the finance and banking industry.

With outstanding benefits and huge potential, biometric technology makes the global finance and banking industry "wake up". In the US, "giants" such as Bank of America, Citibank or Wells Fargo are all accelerating the application of biometric data in their operations. In New Zealand, Westpac - one of the country's largest banks - has applied a behavioral biometric system to prevent fraudulent financial transactions. Or in neighboring Thailand, from June 2023, the Central Bank of this country requires money transfer transactions over 50,000 baht (equivalent to 1,400 USD) to require biometric authentication.

And in Vietnam, recently Decision No. 2345/QD-NHΝΝ of the State Bank (SBV) on implementing safe and secure solutions in online payment requires from July 1, 2024, customers Banks must authenticate biometrics when making banking transactions as a "push" to push the entire domestic banking system to be more serious in building a solid security "firewall" with biometric data. learn.

Facial authentication with current technology platforms is not too difficult, although the fastest way to collect user biometric data and with the least impact on customer experience requires a technology platform. technology and high availability. However, with some banks already equipped with massive biometric data systems and operating smoothly, they have even successfully built a biometric data center system (Bio Center) to always Be ready for more complex problems in the future.

The first biometric data center model of Vietnamese digital bank

In the Vietnamese banking system, Bio Center can be considered a model biometric data system that represents the next step in the development of digital banking at TPBank. With foresight, being ahead of many other systems and the potential for outstanding development in the future, Bio Center has received widespread recognition from prestigious organizations, such as most recently the 2024 Sao Khue Award. in the field of "Solutions to promote digital access".

Since 2016, when launching LiveBank 24/7, TPBank has set the premise for Bio Center by synchronously integrating electronic identification technology. To date, this system has collected about 4.5 million customer face samples through LiveBank 24/7 and Mobile Banking channels - a dream number for many banks in the current period.

In April 2022, TPBank officially "launched" Bio Center - a "made-in-Vietnam" centralized citizen data warehouse and biometric authentication system proactively researched and developed by TPBank. Is a centralized place, providing information related to biometric data (eg: fingerprint, face, voice...) and residential data (eg: CCCD information, identification documents) of guests customers, Bio Center becomes a foundation system, playing a key role in TPBank's digitalization process, especially in customer eKYC (identity authentication).

Instead of applying on single channels like most other banks, Bio Center is developed by TPBank towards Omnichannel (multi-channel model). This means that customer data is synchronized and connected across all channels in TPBank's ecosystem. Customers only need to register biometric data once on the TPBank App or transaction counter or LiveBank 24/7 to be able to make transactions on all TPBank channels using biometric identification, without having to remember complex passwords.

At Bio Center, the facial recognition technology used is also the most advanced Face Search model today with the ability to search and match a face image with a database of more than one million similar face images, thereby accurately identifying customers. Customers do not need to declare additional personal information for second-step authentication like at banks that are still using the Face Compare model (one-to-one comparison of facial images).

Bio Center plays an important and irreplaceable role in the bank's digital ecosystem when it receives requests from all digital channels in TPBank's ecosystem, then analyzes, processes data and coordinates. to partners and services. All create an accurate, fast and absolutely secure customer authentication system.

An important link in creating a sustainable chain for the future

At the end of 2023, when Decision 2345 was announced, TPBank immediately standardized and implemented additional regulations on biometric collection/authentication by adding an NFC reading solution that retrieves information from the CCCD. released by the Ministry of Public Security to match old biometric databases.

While many banks are rushing to prepare systems to meet this regulation, at TPBank, on average every day, about 10,000 facial and ID samples are updated into the bank's data warehouse from all channels ( Mobile Banking, Internet Banking, Counter, and LiveBank 24/7). Diversifying customer data collection channels not only helps banks increase service capabilities, but also minimize time and effort for both customers and bank human resources. In particular, the 24/7 LiveBank system with nearly 150 transaction points mainly concentrated in big cities, densely populated areas has promoted the advantage of "banking that never sleeps", collecting customer data regardless of the situation. day and night. For customers who have difficulty operating online channels or cannot arrange time during office hours to go to the transaction counter, LiveBank 24/7 is an optimal choice because they can be proactive in their time like when done in an online environment, with support staff available at all times of the day.

Not stopping there, mastering advanced AI models and building its own biometric data warehouse helps TPBank be able to stay ahead in developing sustainable business models, minimizing impacts. to the environment through technology. At the same time, TPBank has the ability to detect risks early, be ready to respond to increasingly sophisticated technological fraud tricks in the market and avoid having to depend on any partner. This contributes to promoting the comprehensive construction of a biometric system not only for the banking and finance industry, but also helps green the digital economy.