Airtel Payments Bank implements e-KYC based on face authentication

The Unique Identification Authority of India (UIDAI) has recently developed a mobile application that handles authentication, thus the business correspondent no longer requires anything more than a smartphone to open an account.

In order to further promote digital inclusion, Airtel payments bank, a fintech division of Bharti Airtel has introduced the ability for users to open savings account using face authentication.

It is important to note that Airtel Payments Bank has become the first financial institution in India to provide its clients this service. The facility aims to increase the security, practicality, and seamlessness of the process making it simpler and convenient for customers to open bank accounts.

Opening an account for a customer can now be done just by Business Correspondents of the bank simply completing the facial authentication e-KYC.

Anubrata Biswas, MD & CEO of Airtel Payments Bank said, “We at Airtel Payments Bank believe in strengthening our bouquet of digital services with the latest technology and provide our customers access to improved digital banking solutions which are user-friendly. This safe and secure authentication process has been made possible by the efforts of the UIDAI, which is a huge step in furthering the cause of inclusive banking in the country.”

The Unique Identification Authority of India (UIDAI) has recently developed a mobile application that handles authentication, thus the business correspondent no longer requires anything more than a smartphone to open an account. By the end of this year, the bank is expected to make the benefit accessible at all 500,000 of its banking locations.

The Aadhar-based OTP or fingerprint biometric has been the standard for authentication up until this point. However, this happens to be the first instance where a bank in India uses facial authentication for electronic KYC.

“This KYC facility uses AI/ML based Face Authentication RD Application, which helps in the prevention of fraudulent activities by cross-checking individual’s photo with the image captured in Aadhaar and allows secure customer on-boarding,” Biswas further explained.