The new facility will help Business Correspondents (BCs) of the bank to open an account just by undertaking face authentication e-KYC. The authentication is processed using a newly developed mobile application by the Unique Identification Authority of India (UIDAI) as a result, the business correspondent will now only need a smartphone to open an account. The bank will make this facility available across all its 500,000 banking points by end of this year.
Speaking about the launch, Anubrata Biswas, MD & CEO of Airtel Payments Bank said, “We at Airtel Payments Bank believe in strengthening our bouquet of digital services with the latest technology and provide our customers access to improved digital banking solutions which are user-friendly. This safe and secure authentication process has been made possible by the efforts of the UIDAI, which is a huge step in furthering the cause of inclusive banking in the country."
“This KYC facility uses AI/ML based Face Authentication RD Application, which helps in the prevention of fraudulent activities by cross-checking individual’s photo with the image captured in Aadhaar and allows secure customer onboarding," added Anubrata Biswas.
Till now, if a customer wished to open an account with Airtel Payments Bank, the Aadhaar based OTP or fingerprint biometric authentication was carried out.
This is Airtel Payments Bank’s one more initiative after it recently integrated with the National Payments Corporation of India’s (NPCI) - National Financial Switch (NFS) to facilitate Micro ATM transactions for debit card users residing beyond the metro and tier 1 cities in India.
Airtel Payments Bank offers a diverse range of simple, safe and convenient banking solutions through a strong network of 500,000 banking points spread across the country and its digital platforms. The Bank has also built a robust digital payments ecosystem across the country. Airtel Payments Bank is focused on contributing to the Government’s vision of Digital India and Financial Inclusion by taking digital banking services to the doorstep of every Indian.
