Thursday, 1 December 2022
Trending
MARKETS

Nadra launches contactless biometric verification for banking sector

The National Database and Registration Authority (Nadra) has introduced contactless biometric verification services for the banking and payments industry, making Pakistan one of the first countries in the world to implement the technology on national level.

The state bank governor Dr Reza Baqir launched the service during his visit to NADRA.

Banks will make use of the digital app on smartphones capturing and verifying biometrics of the potential account holders from their homes. With the introduction of this digital technology, the banking system will take a paradigm shift, adding remote biometric capturing technology to the digital banking system.

The service is initially extended to five banks nominated by the SBP for a pilot project. Other banks and fully SBP-licensed EMIs (Electronic Money Institutions), after completion of the necessary formalities, will also be included in the pilot run. Once the pilot is completed, this service shall be extended to all banks/EMIs, said a news release issued on Thursday.

tax accounting services top tax consultants lahore pakistan
Ads:

Banking | Biometric Verification Service | Business | Contactless | NADRA | SBP | Dr Raza Baqir |

Related posts
MARKETS

What is the Weekly Sensitive Price Indicator August 2022

Table of Contents Weekly Sensitive Price Indicator (SPI) for the week ended on August 25…
Read more
MARKETS

Government Says not to Pay Electricity Bills and Wait for New

Table of Contents Government Says not to Pay Electricity Bills and Wait for New Government Says not…
Read more
MARKETS

Good News for Car Buyers

Good News for Car Buyers:. In recent past days, renowned car makers Toyota, Honda and Suzuki…
Read more
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.