Business
Vietnamese banks to provide FaceID function on mobile banking
Instead of accessing bank account through normal PIN passcode, customers just need to hold the phone’s camera up to their faces, then the application will automatically recognize the face for the next login.
As such, customers of the Vietnam International Bank (VIB) can now access the mobile banking application MyVIB through he two forms of biometric authentication logins: facial recognition and fingerprint identification. These functions have been updated on the newest version of MyVIB in AppStore by VIB. Earlier, in last November, its strategic partner — the Commonwealth Bank of Australia — was also the first bank in the world to apply this function.
With the new method, all smartphone users who want to log into the VIB Banking App or MyVIB can now use their camera or touch the built-in fingerprint sensor on their phones, such as IphoneX, Galaxy Note 8, A5, A7 or S6. They only need to activate this feature once and then the application automatically recognizes them for the next login.
The application of biometric authentication has emerged as a trend that can not only bring more convenience but also increases security for customers, especially those who conduct banking transactions online, VIB’s Deputy CEO Trần Nhất Minh said.
Previously, VIB also allowed customers to buy airline tickets on MyVIB while enabling customers to transfer money on social networks in just five minutes via the MyVIB Social Keyboard — a new application that won the bank Vietnam’s Outstanding Innovative Banking Product/Service Award in 2017 from the International Data Group (IDG). This award for MyVIB Social Keyboard recognized VIB’s efforts in promoting the innovation in technology in order to reflect the vision “to be the most innovative and customer centric bank of Vietnam”.
In addition to VIB, Bank for Foreign Trade of Vietnam (Vietcombank) also provides a similar function with FaceID authentication for banking transaction in mobile banking. With this being said, the application VCB-Mobile B@nking has integrated technologies allowing customers to login and verify transaction through FaceID (applicable for IphoneX only).
Other transaction method applying the Face ID authentication including money transfer, Topup, bill payment, QR Code payment. At present, VIB and Vietcombank are the first two commercial banks in Vietnam implementing FaceId right after the launching of IphoneX in the market.
Customers of VIB can now access bank account with FaceID function.
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The application of biometric authentication has emerged as a trend that can not only bring more convenience but also increases security for customers, especially those who conduct banking transactions online, VIB’s Deputy CEO Trần Nhất Minh said.
Previously, VIB also allowed customers to buy airline tickets on MyVIB while enabling customers to transfer money on social networks in just five minutes via the MyVIB Social Keyboard — a new application that won the bank Vietnam’s Outstanding Innovative Banking Product/Service Award in 2017 from the International Data Group (IDG). This award for MyVIB Social Keyboard recognized VIB’s efforts in promoting the innovation in technology in order to reflect the vision “to be the most innovative and customer centric bank of Vietnam”.
In addition to VIB, Bank for Foreign Trade of Vietnam (Vietcombank) also provides a similar function with FaceID authentication for banking transaction in mobile banking. With this being said, the application VCB-Mobile B@nking has integrated technologies allowing customers to login and verify transaction through FaceID (applicable for IphoneX only).
Other transaction method applying the Face ID authentication including money transfer, Topup, bill payment, QR Code payment. At present, VIB and Vietcombank are the first two commercial banks in Vietnam implementing FaceId right after the launching of IphoneX in the market.
