The National Database and Registration Authority (NADRA) has introduced contactless biometric verification services for the banking and payments industry, according to a press release.
The technology will allow banks to capture and verify the biometrics of potential account holders through a digital smartphone app.
This development makes Pakistan one of the first countries in the world to launch the technology domestically.
The National Registration and Database Authority (NADRA) said a pilot project has been launched, with the service extended to five banks designated by the State Bank of Pakistan (SBP). The pilot test will include other banks and Electronic Money Institutions (EMIs) licensed by the SBP after they complete the necessary paperwork.
The service was launched during a visit by the SBP Governor, Dr. Reza Baqir, to NADRA Headquarters, and will be extended to all banks and EMIs after the pilot project ends.
Dr. Baqir commented that “early adoption of this new technology has infinite potential to reach the underserved population while extending great benefit to the financial sector as it will reduce operating costs, helping to release pressure on banks that have been negatively affected during this pandemic ”.
NADRA President Tariq Malik said: "We are addressing the need of the moment during this ongoing pandemic," adding that "this new technology enables contactless fingerprint acquisition and matching using a smart mobile phone, providing an alternative to conventional methods of conducting digital financial transactions that may require specialized equipment or visits to bank branches / franchises ”.
The technology will allow banks to offer new online digital banking services through which customers will be able to open bank accounts and carry out transactions based on biometric data using their smartphones.
Malik added that "this will not only revolutionize the way banking and payment services are offered in the country, but will also complement the campaign for financial inclusion."
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