CTBC Bank Co Ltd (中國信託銀行) yesterday unveiled a number of key technologies to back its transition toward the digitization of financial services, or the so-called “Bank 3.0.”
A pilot program utilizing biometirc security and mobile devices began yesterday for employees working at the 3 hectare CTBC Financial Park in Taipei’s Nangang Business Park, the company said.
The bank plans to extend the digitized services to consumers in about six months, it said.
Photo: CNA
The bank is also implementing finger vein scanning and facial recognition at its automatic teller machines (ATM), which would allow customers to withdraw money without having to use a bank card or PIN.
The finger vein technique was pioneered by the Japanese firm Hitachi Ltd and is based on the unique pattern of veins inside a finger. Only a living finger is accepted by the scanner, which is believed to make vein recognition a more secure technology than fingerprint scanning.
The finger vein sensor has a false match rate of 0.01 percent, and its accuracy in measuring the blood flow of a user for identity authentication is unaffected by variations in age and physical condition, the bank said, citing findings by US-based International Biometric Group.
The technology is already in use in some bank ATMs in Japan and Poland.
CTBC Bank said it has begun using tablets to cut down on waiting times for customers visiting branch office and is planning to transform smartphones into wallets by adding near field communication and QR Code scanning capabilities.
Consumers would to be able to make deposits, send wire transfers and take out loans by using the bank’s ATMs in 24-hour convenience stores, it said.
The digitized services are still awaiting regulatory approval and their implementation will require the consent of customers, CTBC Bank said.
However, the company said that more than 60 percent of customers still prefer face-to-face service, based on a study by Ernst & Young last year.
Additional reporting by staff writer
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