Secure solutions for banking transactions.

Under the guidance of a bank employee, the customer proceeds with the steps to update their facial biometric data.

Recently, in the province as well as nationwide, there have been many cases of people being scammed out of their bank accounts by fraudsters using increasingly sophisticated methods and technologies. In response to this situation, the State Bank of Vietnam issued Decision 2345/QD-NHNN dated December 18, 2023, on the implementation of safety and security solutions for online payments and bank card payments. The decision takes effect from July 1, 2024. Accordingly, online transactions with a value exceeding VND 10 million per transaction or VND 20 million per day must be authenticated biometrically using fingerprints or facial recognition. This solution allows regulatory agencies and service providers to accurately identify the account holder, the transaction operator, and the beneficiary. This helps to enhance security, prevent unauthorized access to mobile banking applications, and protect customers' assets. At the same time, this helps put an end to the practice of buying, selling, and renting bank accounts for fraudulent purposes online. Sharing his thoughts on this issue, Mr. Pham Manh Kien, Deputy Director of the State Bank of Vietnam's Dien Bien branch, said: “For transactions of 10 million VND or more per transaction and a maximum of 20 million VND per day, biometric verification is required, currently using facial recognition; later, it may be iris recognition as part of a program being implemented by the Ministry of Public Security . Comparing facial recognition with the account holder's identity will ensure greater security and safety.”

To facilitate transactions, many people in the province have now updated their biometric data through two methods: online via the bank's app and in person at banks for guidance. As someone who frequently makes online money transfers via mobile banking, Ms. Trinh Thi Ngoc, from Tan Thanh ward (Dien Bien Phu city), visited a Vietinbank branch on the first day Decision 2345 came into effect to receive guidance from staff on biometric authentication. Ms. Ngoc said: “When I received the bank's notification about having to update my biometric data, I was a little worried and found it difficult to do on the software. Therefore, I went directly to the bank to ask the staff for guidance. After that, I felt that transferring money with biometrics would be safer because I have to authenticate my face instead of entering an OTP code like before.”

Many people came to Vietinbank to update their biometric data.

Unlike Ms. Ngoc, instead of going to the bank for assistance with the update, many account holders are installing it online through their bank's app. However, online installation also presents difficulties. Mr. Nguyen Manh Hung, from Muong Thanh ward ( Dien Bien Phu city), shared: “To facilitate transactions, when my bank account received a notification about the biometric update, I proactively installed it on the mobile banking application. However, an error occurred during the process. I think it's probably because the banking system was overloaded in the early days of implementation, so I understand. I will try again and choose a time when fewer people are accessing the system to update. If it still doesn't work, I will probably have to do it in person at the bank to avoid affecting my transactions.”

To date, commercial banks in the province have implemented the requirement for account holders to verify biometric data when transferring money online or topping up e-wallets exceeding 10 million VND per transaction or 20 million VND per day. To set up biometrics in the mobile banking application, customers can bring their chip-embedded citizen identity card to bank branches for specific instructions; or they can set it up online by accessing the bank's mobile banking application and following the instructions provided. Ms. Nguyen Hai Tuyen, Deputy Head of Customer Transaction Department, BIDV Dien Bien Branch, shared: “BIDV Bank in general and BIDV Dien Bien in particular have informed all customers and assisted them in setting up biometrics. At the same time, we have assigned contact persons at transaction offices and branches to assist customers outside of business hours, on holidays, and in densely populated areas to ensure the most convenient biometric setup process.”

BIDV bank staff guide customers in updating their biometric data.

According to statistics, the province currently has nearly 564,000 active bank accounts, including over 557,000 individual accounts. To help customers enhance account security and to comply with Decision 2345 of the State Bank of Vietnam, banks in the province are focusing on implementing measures to update biometric data. With the proactive support and guidance of the banks, in the coming days, people should proactively update their biometric information on mobile banking applications to enhance transaction security; and at the same time, proactively plan their finances and avoid affecting the progress of transactions in the future.

Source: https://baodienbienphu.com.vn/tin-tuc/kinh-te/216361/giai-phap-an-toan-trong-giao-dich-ngan-hang