Krungsri first bank in Thailand to use facial recognition tech to open accounts

[snoop1130]

Krungsri first bank in Thailand to use facial recognition tech to open accounts

By The Nation

 

 

Krungsri (Bank of Ayudhya) has introduced facial recognition through electronic Know Your Customer (e-KYC) technology for verifying the identities of people as they open a deposit account.

 

Under the Bank of Thailand’s regulatory sandbox, the technology enables an upgrade of the bank’s verification process and accuracy toward international standards. Now available for customers at Krungsri branches, the facial recognition for e-KYC will also be deployed when customers open their passbook via mobile application by the end of the second quarter.

 

The breakthrough technology reflects the bank’s commitment as a leader in digital banking and innovation development for ultimate customer satisfaction, said Phonganant Thanattrai, Krungsri head of retail banking and distribution group. 

 

The identity proofing process using facial comparison will enhance the security of identity verification, reduce risk of mistakes in the proofing process, and prevent identity theft and fraudulent transactions, while maintaining a convenient and speedy process for account opening, said Phonganant.

 

In its initial state, the facial recognition technology will be adopted when customers open a deposit account by matching the cardholder’s face to the photo on their citizen ID card as presented at the branch.

 

Krungsri staff will use the comparison result to when considering allowing a passbook account to be opened.

 

Meanwhile, Krungsri is planning extensive use of facial recognition technology for opening an account via a mobile application within the second quarter of 2019, Phonganant said.

 

Source: http://www.nationmultimedia.com/detail/Corporate/30365225

 

-- © Copyright The Nation 2019-03-05

[Crossy]

I think it's busted if it made a positive ID ...

 

[Pib]

I wonder if it would work for us folks with Thai Pink ID cards since our pictures are in the Thai ID database? 

 

Probably not....expect for us farangs our foreign passports will always be our primarily ID in the eyes of Thai govt agencies, companies, banks, etc., and our passports pictures/data are not in the Thai ID database.  And I'm sure those immigration offices that takes snapshots of us during extension renewals wouldn't be usable either. 

[quandow]

Is it just me or does it look like the pictures here are a mug shot on the left, the criminal on the right?

[brain150]

One more step towards full spectrum surveillance !

Very bad - but obviously most people will like it.

[Sydebolle]

Assume that Bangkok Bank will retaliate with mandatory DNA testing ......... 

[Baerboxer]

3 hours ago, brain150 said:

One more step towards full spectrum surveillance !

Very bad - but obviously most people will like it.

 

Pssst - don't forget your tin foil hat! They're all out to get you.

[topt]

From the UK

Quote

The Met has also had to defend the high error rate of its technology. According to datareleased under the UK’s Freedom of Information laws, 98 percent of “matches” made by the Met using facial recognition were mistakes. Despite this, police commissioner Cressida Dick said in July she was “completely comfortable” with the trials.

https://www.theverge.com/2018/12/18/18146083/facial-recognition-police-london-uk-met-christmas-shopping/

[KittenKong]

Krungsri is by far the most advanced of my Thai banks when it comes to online functionality. The others dont even come close.