Ever consider biometric solutions in your bank branch? Here’s are some reason why you should!

image.png

As banks all over to world seek ways to transform business to bring more convenience and value to the customer, biometric options may have been a part of that conversation. Some may be overwhelmed about installing new systems within branches, especially when it comes to biometrics holding personal data. Fortunately, our company has had much experience with implementing these solutions in banking, which is why we have summed up four reasons why you should start now.

Convenience

Have you ever had a customer go to a branch because they forgot their password? Having to remember many kinds of passwords can be a burden to the customer like token pins, phone pins, card pins, and online banking. What if you could provide the same banking services without having the customer remember any passwords in a secure manner?  With biometrics, we have had customers replace the need for bank cards and PINs when it came to cash transactions on certain terminals. A case in Vietnam uses the customer’s face to access their bank card and their fingerprint to act as a PIN to finish the transaction.

Fast Implementation

So you have made the leap to start a pilot project with biometrics, but feel that it can be too complex to start. There is little to worry. To start a project, you only need a dedicated biometrics server that can communicate with your core banking system via a switch. There is no need for any major changes in your current banking processes, so the interruption of operations is negligent. Most of our customers start pilots in a key bank branch that has the most amount of traffic. The average time it takes to set up a pilot biometric project is about 1 week.    

More Secure

How hard is it to take a picture of somebody’s credit/debit card and use it online? Even though the risk may seem low, every time you pull out your card for a transaction, you never know who is watching. Our biometric solutions are configured to detect liveness and can be adjusted for your customer demographic. For example, if you have customers who are twins, you can adjust the threshold for our face recognition software to be able to differentiate between the two. Not only are these solutions non-intrusive to the customer, but they also provide the upmost security to prevent any fraudulent claims from occurring. You can say goodbye to signature forging and stolen bank cards at ATMs.

Expandability

For most cases, banks start with cash transactions when using biometrics. What if you can expand transactions further to digitize opening bank accounts, buying insurance, applying for loans, and much more. Most of our projects start off with cash transactions because they are relatively simple. However, with time, biometrics have been added to other processes like opening a checking account, which shifts mundane transactions from the teller to a digitized platform allowing your teller to practice more product promotion and customization services. We have also had customers use biometrics to replace signatures and allow tellers to log in to the banking system preventing fraudulent cases.

If you have thought about adding such biometric solutions, what are you waiting for? For any inquiries or for a free consultation services, contact us at bt@grgbanking.com