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