ISLAMABAD: Capitalizing on technical advancements, and as per the request of the State Bank of Pakistan (SBP), National Database and Registration Authority (NADRA) has launched the latest Contactless Biometric Verification Services for the Banking and Payments Industry, making Pakistan one of the first countries in the world to implement this Technology on National Level.
The service was launched during the visit of Governor State Bank Dr Reza Baqir to NADRA Headquarters, Islamabad on Thursday.
The Banks in Pakistan 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 SBP for the pilot. Other banks and fully SBP licensed EMIs, after completion of necessary formalities will also be included in the pilot run. Once the pilot is completed, this service shall be extended to all Banks/EMIs.
Speaking on the occasion Baqir said, “This new mobile-based verification service for banks and Electronic Money Institutions is in line with SBP’s financial inclusion initiative while creating opportunity for rapid onboarding using remote identification and e-KYC features” He added, “early adoption of this new technology has endless potential to reach towards underserved population...
Read Full Story: https://profit.pakistantoday.com.pk/2021/09/09/nadra-launches-contactless-biometric-verification-services/
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