The Easiest Way to Register Your Biometric Data with Digimi Digital Bank

In an effort to enhance security measures for online and card-based payments, the State Bank of Vietnam (SBV) issued Decision No. 2345/QD-NHNN on December 18, 2023. This decision outlines the implementation of safety and security measures for online and card-based payments, with a focus on the use of biometric authentication for certain types of transactions.

As per Decision No. 2345, biometric authentication is required for transactions over VND 10 million, cumulative daily transactions exceeding VND 20 million, and first-time mobile banking app logins or logins from a new device.

Banks, e-wallets, and users are racing to update their biometric data before the decision comes into effect. Users can easily complete this process on their smartphones in three steps: taking photos of the front and back of their chip-based citizen identity cards, NFC scanning of the card, and facial recognition with OTP authentication.

While most users have reported a smooth and quick process, some have encountered difficulties with NFC scanning on banking apps, as shared on tech forums.

The SBV has issued Document No. 5262/NHNN-CNTT to address challenges faced by individuals during biometric data registration.

In line with Decision No. 2345/QD-NHNN, BVBank, from June 27, 2024, has officially implemented facial biometric authentication for online transactions. This added security layer will be applied to various online transactions, including first-time logins to Digimi online banking, device changes, e-banking service upgrades, payments exceeding VND 10 million or cumulative daily transactions of over VND 20 million, and other transactions as specified by BVBank.

To ensure uninterrupted service, BVBank has started collecting facial biometric data from all existing Digimi users. This one-time setup involves a simple four-step process on the Digimi online banking platform.

According to experts, biometric authentication offers the highest level of security and significantly reduces the risk of fraud. Traditional authentication methods, such as passwords and one-time passwords (OTPs), are becoming increasingly vulnerable to attacks. In contrast, biometric data, which is unique to each individual, provides a more secure and reliable means of authentication.

“BVBank strongly supports the SBV’s Decision No. 2345/QD-NHNN to enhance security for online transactions. This additional layer of protection will prevent unauthorized access and minimize the risk of fraud, giving our customers peace of mind when making high-value transactions,” shared a BVBank representative. “We are committed to complying with the SBV’s regulations and continuously striving to deliver the best experience to our valued customers.”

Facial biometric authentication utilizes Near Field Communication (NFC) technology to establish a connection between a smartphone or tablet and a chip-based citizen identity card. This technology ensures the highest level of security and protects customers during financial transactions by verifying their identity through facial recognition.

To safeguard customers’ biometric data, banks advise against registering biometric information on any websites or applications other than the official banking apps. Banks will also never request OTPs, passwords, card numbers, or security codes via phone calls or links.