Your Fingerprint Now Allows Access To Your Bank Account

Everyone uses debit and credit cards to facilitate cash less transaction. But if someone has known your PIN and is in possession of your debit card then they can go to the nearest ATM and easily withdraw cash from your account. So Mekong Development Bank in Vietnam has removed PIN from the equation and started using fingerprints to grant access to the account. All the user has to do is to register his/her fingerprint while opening a bank account and can use the card and fingerprint at any one of the 33 NCR SelfServ ATMs across Vietnam to get cash from their account.

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Temenos, a software firm was asked by the bank to enable biometrics in the bank’s core T24 system. This new change has increased the confidence of people with the bank and customer base of the bank has tripled since the introduction of biometrics since June. The customers have even started keeping twice the amount of money in their accounts. According to statistics only 20% Vietnamese have bank accounts, this service is sure to change this scenario. Lee Volante the director business solution group for APAC, Temenos stated that biometrics have been used by banks for accessing vaults and this is high time that this technology be used on a large scale for customer satisfaction in developing countries.

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