To protect users from fraud and scams, VietinBank is always a pioneer in applying technology in transaction activities. This bank is also the first to effectively deploy biometric authentication for customers since July 1.
With the goal of ensuring safety in online transactions, the State Bank has issued Decision 2345.
According to this decision, from July 1, when transferring money online over 10 million VND/transaction or a total of transactions in a day with a value of over 20 million VND, customers will have to authenticate their faces. The authenticated face must match the data stored in the citizen identification chip for the transaction to be successful.
VietinBank has authenticated faces for more than 5 million customersAccording to the State Bank, this solution aims to ensure transaction safety for customers, avoiding fraud and account theft.
As a key state-owned commercial bank, a pillar of the economy, VietinBank prioritizes resources to deploy solutions to collect and clean customer data, minimizing the risk of fraud in cyberspace.
Since 2020, VietinBank has invested in biometric technology solutions. Therefore, when Decision 2345 was issued, VietinBank was one of the first units to complete a solution set to connect with the National Population Data Center to authenticate customers' biometrics.
VietinBank has been proactive in terms of technology infrastructure as well as biometric authentication solutions to help customers not encounter difficulties in the transaction authentication process.
According to VietinBank, the implementation of biometrics has helped the bank gradually clean up customer data, minimizing the leasing, lending and forgery of accounts. At the same time, this solution also allows people to make online transactions with higher safety and security.
To date, VietinBank has successfully authenticated more than 5 million customers. The scale of money transfers on VietinBank's digital channels has grown impressively with tens of millions of biometric authentication transactions per month. This number is expected to continue to increase in the near future.
VietinBank staff guide customers through biometric authentication - Photo: VTB
Assessing the implementation of biometrics, Mr. Tran Cong Quynh Lan - Deputy General Director of VietinBank, said that this solution is a big step forward, bringing many benefits to both customers and the banking industry in general.
"We have cleaned up the bank account system, increased security and safety for customers, and still ensured smooth transactions. Transactions are now being carried out more frequently. People feel more secure about transferring money through the banking system," Mr. Lan emphasized.
As a long-time customer of VietinBank, Ms. Pham Hoang Hanh shared that since updating transaction authentication with biometrics, users feel secure every time they transfer money and even when leaving money in their accounts, they are not afraid of being taken by cybercriminals.
According to the State Bank, since the banking industry has actively promoted biometric collection and authentication, the number of fraud cases involving loss of money from customers' accounts has decreased significantly.
The number of customers who lost money in August decreased by about 50% compared to the average number of cases in the first 7 months of the year. The number of accounts receiving fraudulent money in August also decreased by about 72% compared to the average number in the first 7 months of this year.
Customers experience VietinBank's digital banking services - Photo: VTB
To ensure the safety of financial transactions, VietinBank said it will continue to promote the implementation of solutions to apply population data and clean data. The goal is to ensure that 100% of individual customers at VietinBank are compared with biometric information in their chip-embedded citizen identification cards or via the VneID application.
Along with that, VietinBank will promote the application of national population data in assessing the creditworthiness of borrowers, contributing to pushing back black credit.
"From now until the end of the year, VietinBank will actively communicate and support customers in identifying their accounts. The goal is to clean up all accounts. And by early 2025, all customers will be able to identify their accounts and make online transactions," said Mr. Tran Cong Quynh Lan.
With the operating philosophy of "customer-centricity", along with promoting biometric authentication to prevent fraud and protect customers when transacting online, VietinBank also increases the deployment of modern products and services with high technology content, bringing convenience and better, more complete experiences to customers.
| By the end of the third quarter, the VietinBank iPay Mobile application for individual customers continued to attract more than 8.6 million users, an increase of 17.2% over the same period in 2023. The number of transactions reached 1,377 million, an increase of more than 75.6% over the same period in 2023. The proportion of transactions via the iPay channel reached more than 92% of total individual customer transactions. |
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