by Suman Gupta
Customers will soon be able to open an account digitally by completing their eKYC using Face Authentication within minutes from anywhere in the country
New Delhi, 07 September 2023: Taking yet another step towards building the best digital banking experience, Airtel Payments Bank announced that it would enable Face Authentication-based savings bank account opening for customers on the Airtel Thanks App. The facility which will go live by end of the year 2023 will allow users to open an account digitally with the Bank, using face biometrics as e-KYC, within minutes from anywhere in the country. Airtel Payments Bank is the first Bank in the country to test this facility on its mobile app.
The new facility will allow users to open an account digitally just by undertaking face authentication e-KYC. The authentication will be processed using the mobile application developed by the Unique Identification Authority of India (UIDAI). Along with UIDAI, the Bank demonstrated how simple and safe this new account opening journey will be at the Global Fintech Fest.
Anubrata Biswas, MD & CEO of Airtel Payments Bank said, “At Airtel Payments Bank, we leverage the latest technology to enhance our digital services, ensuring that our banking solutions are user-friendly. The face authentication for e-KYC is secure, fast, and paperless, making the digital account-opening journey seamless. Furthermore, this technology will use India’s Digital Public Infrastructure, reducing dramatically cost to serve and increasing access, thus furthering Digital India. We’re confident that our customers will benefit from this service, and we’re thankful to the Unique Identification Authority of India for their continuous support and partnership with us to make this India first facility available.”
This KYC facility uses AI/ML-based Face Authentication RD Application, which helps in the prevention of fraudulent activities by crosschecking an individual’s photo with the image captured in Aadhaar and allows secure customer onboarding.
Until now, if a customer wished to open an account with Airtel Payments Bank digitally on the Airtel Thanks app, Video KYC was carried out. The Bank has already made e-KYC based on Face Authentication live at its Banking points.
About Airtel Payments Bank: Airtel Payments Bank is India’s first Payments Bank that launched in January 2017, now boasts of over 40 million+ customers and over 500K banking points across the country. In addition to having a presence in all 29 states of India, Airtel Payments Bank also has an app for Android and iOS users to make banking easier for its rural and urban customers. Airtel Payments Bank aims to take digital banking services to the doorstep of every Indian, particularly in unbanked rural areas, and contribute to the Government’s vision of Digital India and Financial Inclusion.
