“A Bank Pilots NFC on Over 200 Phone Models: 2 Million Customers Successfully Biometrically Verified in Just 3 Days.”

According to information shared by Mr. Pham Tien Dung, Vice Governor of the State Bank of Vietnam, by 5 PM on July 3rd, 16.6 million customer accounts had been cross-referenced with the Ministry of Public Security’s biometric data. So far, one bank has successfully verified 2.6 million customer accounts. Most account holders can be verified via NFC-enabled phones. Only about 10% of the 16.6 million accounts that have been biometrically verified required assistance at the counter.

Many large banks reported impressive results in the first few days of implementing Decision 2345, which includes requirements for biometric face authentication. A representative from Techcombank stated that in just the first two days of implementing the decision, the bank had over one million people sign up for biometric authentication, and by 5 PM on July 3rd, that number had risen to 2.1 million customers. Among them, approximately 150,000 people were verified at the counter.

Mr. Pranav Seth, Director of the Digital Banking Transformation Division at Techcombank, shared that to achieve such impressive numbers, Techcombank had developed a plan for both its internal operations and customer communications, highlighting the benefits that customers would receive from biometric authentication. In terms of technology, Techcombank simplified the processes for customers, ensuring that anyone could complete the authentication process quickly and securely. Since December 2023, Techcombank has assembled a project team of 60 experts in user experience, product management, and technology development to enhance customer engagement and connection.

Mr. Pranav Seth added that during the implementation process, Techcombank studied over 200 different smartphone models with varying NFC connection locations to ensure compatibility with their customers’ devices. Through this research, Techcombank developed a technology infrastructure that could provide information to customers in multiple ways, tailoring the payment process to the specific interface of their phones.

At Vietcombank, Ms. Doan Hong Nhung, Director of the Retail Division, shared that in the 16 days since updating their software with the new biometric authentication requirement, Vietcombank recorded 8.5 million users who authenticated their security using the new method. On July 1st, Vietcombank implemented biometric authentication and simultaneously launched the Ministry of Public Security’s Electronic Authentication Service. The massive number of simultaneous access and biometric registration attempts caused some initial difficulties, but Vietcombank quickly updated and improved its services to restore smooth transactions and biometric registration. From June 18th to July 4th, Vietcombank recorded nearly 1.9 million customers who successfully authenticated their biometrics.

For foreign customers, Vietcombank provided support to make it easier for this group to register their biometrics when authenticating bank transactions. Currently, about 60,000 foreign customers using Vietcombank’s services have been assisted, either directly at the counter or at the customers’ workplaces, especially in industrial parks and FDI enterprises.

At SHB, Mr. Luu Danh Duc, Deputy General Director in charge of the Information Technology Division, shared that SHB has built a defense system to prevent cyber attacks and protect the assets of both the bank and its customers. The bank has continuously implemented measures to warn customers about fraud through various channels, including text messages, websites, transaction counters, and the press. In addition, the bank is further enhancing technical measures such as strong data encryption and application security, strictly adhering to the SBV’s Decision 2345 on biometric authentication for online transactions. The bank has also implemented additional measures, such as setting transaction limits and requiring customers to change their passwords every three months. To counter deepfake fraud, SHB is utilizing AI and machine learning technologies and applying advanced biometric solutions.

A representative from BIDV, Ms. Nguyen Thi Quynh Giao, Deputy General Director, shared that BIDV had launched a “67-day” campaign to collect biometric data. The bank trained 7,000 staff members to provide 24/7 support to customers through various means. As of the night of July 3rd, over 1.7 million biometric authentications were successful, including 166,000 collected at the counter. Regarding future solutions, BIDV proposed that the State Bank of Vietnam guide banks in standardizing biometric and electronic identity authentication standards and develop a common set of standards for banks to follow.