All online transactions on the SHB Mobile/SHB SAHA electronic banking app over 10 million VND will require biometric authentication. Transactions below this amount will continue to use Smart OTP for authentication.
According to Decision 2345, individual customers must also be biometrically identified before their first transaction on a mobile digital app or when using a different device for the first time.
A SHB representative stated that biometric authentication is a crucial safeguard for the credit system and SHB to protect customers, along with password and Smart OTP security measures, amidst rising digital fraud. Decision 2345 also prompts banks to implement advanced AI technologies for biometric identification, simplifying customer identification processes.
“The bank hopes that by adhering to Decision 2345, we can ensure a seamless and secure user experience for online money transfers and savings at credit institutions. Customers can rest assured that all biometric data is absolutely confidential and secure,” emphasized the SHB representative.
Customers who have not yet standardized their biometric information are advised to update their SHB Mobile/SHB SAHA app to the latest version and follow the easy 5-step setup process. Alternatively, customers can visit any SHB transaction point or branch nationwide for in-person authentication to avoid disruptions in their financial transactions.
Note: Customers should only update their biometric data through the SHB Mobile/SHB SAHA electronic banking app or at SHB transaction points nationwide. For assistance, customers can also contact the 24/7 Customer Service Center via the *6688 hotline.
SHB has been actively communicating this requirement through multiple channels, including press, television, email, SMS, and app notifications, along with providing detailed illustrations to guide customers through the process. If customers encounter any difficulties, dedicated staff at SHB transaction points are equipped with specialized chip readers to provide support.
SHB is also expediting the construction of a clean biometric database by cross-referencing collected biometric data with the national population database managed by the Ministry of Public Security. Additionally, they are reviewing and updating customer data to mitigate fraud risks.
As one of the four largest private banks in Vietnam, with over 92% of transactions conducted digitally, SHB recognizes the importance of implementing Decision 2345 to protect customers during online transactions. Over the past three years, the bank has focused on enhancing its information technology infrastructure, standardizing data systems, and strengthening data security to lay the foundation for its future transformation plans.
SHB has been committed to developing digital products and sales tools, automating internal processes, digitizing management and risk management practices, and leveraging artificial intelligence and Big Data in its business operations. Today, over 90% of the bank’s critical functions can be performed entirely through digital channels.
SHB is aggressively implementing its 2024-2028 Transformation Strategy, accelerating digitization and technology integration across all operations, continuously enhancing its international standard governance capabilities, and adhering to its sustainable, safe, and efficient development orientation.
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