SHB officially applies biometric authentication to online transactions

Thanks to the rapid standardization of systems, processes as well as upgrading of technology infrastructure to serve the collection of customers' biometric data on multiple channels, from July 1, 2024, SHB officially applied 100% of Decision 2345/QD-NHNN (Decision 2345) to all customers in all online transactions.

All online transactions on SHB Mobile/SHB SAHA e-banking application with a value of over 10 million VND/transaction; or under 10 million VND/transaction but the total amount of transactions in the day is from 20 million VND or more, the next transfer in that day, the customer will have to authenticate by biometrics. Money transfer transactions under 10 million VND/transaction and the total transaction value does not exceed 20 million VND/day will be authenticated by Smart OTP code as usual, no need for facial authentication.

In addition, according to Article 2 of Decision 2345, individual customers must also be biometrically identified before making their first transaction on a digital mobile app or before making a transaction on a device other than the one they last made the transaction on.

SHB representative said that biometric transaction authentication is an important barrier for the credit system in general and SHB in particular to enhance customer protection, in addition to password and Smart OTP security methods in the context of increasing digital fraud. Decision 2345 is also one of the solutions to promote banks to quickly deploy advanced AI technology solutions related to biometric identification to simplify the customer identification process.

“ The Bank hopes that the application of Decision 2345 will not only ensure a convenient, seamless and continuous user experience on digital platforms but also enhance the protection of online money transfer transactions as well as savings deposits at the credit system. Customers can rest assured that all biometric data information is kept absolutely confidential by the Bank, ” the SHB representative emphasized.

Customers who have not yet had time to standardize their biometric information should quickly access the latest version of SHB Mobile/SHB SAHA application to perform the installation in 5 extremely easy steps. In addition, customers can directly authenticate at all SHB transaction points and branches nationwide so that the financial transaction process is not interrupted.

Please note, customers can only update biometric data via SHB Mobile/SHB SAHA e-banking application or directly at SHB transaction points nationwide. At the same time, customers can also contact the 24/7 Customer Service Center via hotline *6688 for advice.

Previously, to ensure that all Vietnamese and foreign customers using SHB services are updated with biometric data according to Decision 2345, SHB has continuously communicated multi-channel instructions (newspapers, television, email, SMS, push app...) with specific illustrations so that customers can operate and perform by themselves. If customers cannot operate by themselves, consultants at the transaction counter or customer specialists with specialized chip reading devices are ready to respond and support customers in the operation.

SHB also accelerates the construction of a cleaned biometric database (comparing collected biometric data with the national population database managed by the Ministry of Public Security) as well as reviewing, updating and cleaning customer data to prevent fraud risks.

As one of the four largest private banks in Vietnam with over 92% of total transactions conducted via digital channels, SHB recognizes the urgency of implementing Decision 2345 to protect customers when transacting online. In the past 3 years, the Bank has strengthened its information technology infrastructure, standardized database systems, and enhanced data security to create an important foundation for subsequent transformation plans.

The bank also focuses on developing products and sales tools on digital channels, automating internal processes for administration, digitizing operations, risk management, and applying artificial intelligence and Big Data to business operations. To date, more than 90% of key banking operations can be performed entirely on digital channels.

SHB is strongly and comprehensively implementing the Transformation Strategy 2024-2028, accelerating digitalization and applying technology to all activities, continuously improving management capacity according to international standards and modern models, while continuing to adhere to the orientation of sustainable, safe and effective development./.

PV