Standard Chartered is rolling out biometric tech around the world
Standard Chartered has committed to rolling out biometric technology across Asia, Africa and the Middle East, which would allow clients to access their bank account balances, cards and investments using their unique fingerprint or voice as identifiers.
The roll-out will reach five million people, which the bank says makes it the most extensive roll-out of fingerprint biometric technology by any international bank “and a first in most markets”.
Touch login would allow customers to access their bank details, cards and investments. The verification technology is already live in Singapore, the UAE and India, and will launch in China, Hong Kong, Malaysia, and Pakistan. Depending on regulatory approval, it will also launch the African markets including Botswana, Ghana, Kenya, Nigeria by the end of 2016.
Before the end of 2016 India and the UAE clients will have access to voice biometric technology for phone banking services before rolling out to new markets, depending on regulatory approval.
Karen Fawcett, Standard Chartered’s CEO of Retail Banking, said:
“Fingerprint and voice biometric technologies give our clients more convenience and security when they want to access their bank balances, cards and investments, wherever they are and whenever they want.”
The bank is investing $1.5 billion in the tech over the next three years.
Voice biometric technology is gradually gaining traction, most notably in the UK, whereBarclays bank customers can now register to have their identity verified through voice recognition.