Airtel Payments Bank has announced that it would enable Face Authentication-based savings bank account opening for customers on the Airtel Thanks App. The facility which will go live by the end of the year 2023 and will allow users to open an account digitally with the Bank, using face biometrics as e-KYC, within minutes from anywhere in the country. Airtel Payments Bank is the first Bank in the country to test this facility on its mobile app.
How the face authentication will work
The new facility will allow users to open an account digitally just by undertaking face authentication e-KYC. The authentication will be processed using the mobile application developed by the Unique Identification Authority of India (UIDAI). Along with UIDAI, the Bank demonstrated how simple and safe this new account opening journey will be at the Global Fintech Fest.
This KYC facility uses AI/ML-based Face Authentication RD Application, which helps in the prevention of fraudulent activities by crosschecking an individual’s photo with the image captured in Aadhaar and allows secure customer onboarding.
Until now, if a customer wished to open an account with Airtel Payments Bank digitally on the Airtel Thanks app, Video KYC was carried out. The Bank has already made e-KYC based on Face Authentication live at its Banking points.
What the company said
Anubrata Biswas, MD & CEO of Airtel Payments Bank said, “At Airtel Payments Bank, we leverage the latest technology to enhance our digital services, ensuring that our banking solutions are user-friendly. The face authentication for e-KYC is secure, fast, and paperless, making the digital account-opening journey seamless. Furthermore, this technology will use India’s Digital Public Infrastructure, reducing dramatically the cost to serve and increasing access, thus furthering Digital India. We’re confident that our customers will benefit from this service, and we’re thankful to the Unique Identification Authority of India for their continuous support and partnership with us to make this India first facility available.”
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