Struggling with New Biometric Verification
Since July 1st, customers must undergo biometric verification when conducting transactions through Mobile Banking for the first time. Transactions exceeding 10 million VND at once or accumulating over 20 million VND per day require facial recognition authentication. Many users, especially older individuals or those with limited tech knowledge, are encountering difficulties updating their data on banking apps.
Challenges in Data Collection
Banks acknowledge the obstacles in data collection, particularly with older customers, unfamiliar with smartphones, those who haven’t renewed their chip-embedded ID cards, or individuals who have undergone plastic surgery. The process of touching the ID card on different phone chip readers poses a challenge due to varying chip reader placements across different phone models.
Concerns Raised by Experts
According to industry experts, there is a general worry within banks and e-wallet companies during the verification process, mainly during the step of scanning the ID card chip information, which often results in errors hindering customers from proceeding further.
Expert Recommendations
Speaking with VTC News, Ms. Nguyen Tuyet Nhung from Kalapa Company, specializing in biometric solutions, expressed that the requirement for a smartphone with NFC chip reading capabilities integrated with the ID card has left many users dissatisfied. These new demands are unfamiliar to most users and require them to understand the essential nature of this technology.
This evolving landscape in digital banking authentication highlights the need for user-friendly solutions to ensure a smooth transition towards advanced security measures while addressing the concerns raised by diverse user demographics.
New Advancements and Concerns in Biometric Authentication for Banking Apps
In the realm of biometric authentication for banking apps, new challenges and advancements continue to shape the user experience and security protocols. As customers adapt to the latest requirements for facial recognition authentication and ID card chip scanning, several important questions arise:
1. What are the latest advancements in biometric authentication for banking apps?
Recent developments in biometric authentication technology include voice recognition, fingerprint scanning, and even iris detection. These methods offer enhanced security measures and streamline the user verification process.
2. How do banks address concerns related to data collection for biometric verification?
Banks are implementing strategies to assist customers who may face challenges with data collection. This includes offering assistance to older individuals or those unfamiliar with smartphone technology, as well as providing guidance on updating IDs or navigating chip reader compatibility issues.
3. What are the key advantages of biometric authentication in banking apps?
Biometric authentication offers a higher level of security compared to traditional password-based systems. It provides a more convenient and efficient user experience, eliminating the need to remember complex passwords.
4. What are the disadvantages associated with biometric authentication?
One of the main disadvantages of biometric authentication is the potential risk of data breaches or unauthorized access. Additionally, users may have concerns about privacy and the storage of their biometric data.
In light of these questions and challenges, it is essential for banks and financial institutions to consider the evolving landscape of biometric authentication. By prioritizing user-friendly solutions and addressing the diverse needs of their customer base, banks can ensure a smooth transition towards advanced security measures in digital banking apps.
For further insights and information on biometric authentication in banking, you can visit banking.tech for the latest trends and developments in digital banking security.