SHB officially applies biometric authentication to online transactions.

Thanks to the rapid standardization of systems and processes, as well as the upgrading of technological infrastructure for collecting customer biometric data across multiple channels, from July 1, 2024,SHB officially applies Decision 2345/QD-NHNN (Decision 2345) to 100% of all customers in all online transactions.

All online transactions on the SHB Mobile/SHB SAHA e-banking application with a value exceeding VND 10 million per transaction; or transactions under VND 10 million per transaction but with a total daily transaction value of VND 20 million or more, will require biometric authentication for subsequent transfers within that day. For money transfers under VND 10 million per transaction and with a total daily transaction value not exceeding VND 20 million, authentication will be done using Smart OTP code as usual, without requiring facial recognition.

Furthermore, according to Article 2 of Decision 2345, individual customers must also undergo biometric verification before making their first transaction on a digital mobile app or before making a transaction on a device other than the one used for their most recent transaction.

A representative from SHB stated that biometric transaction authentication is a crucial safeguard for the credit system in general, and SHB in particular, to enhance customer protection, alongside password-based and Smart OTP security methods, in the context of increasing digital fraud. Decision 2345 is also one of the solutions to encourage banks to quickly implement advanced AI-based solutions related to biometric identification to simplify customer identification processes.

“ The bank hopes that the application of Decision 2345 will not only ensure a convenient, seamless, and continuous user experience on digital platforms but also enhance the protection of online money transfer transactions and savings deposits within the credit system. Customers can rest assured that all biometric data is kept absolutely confidential by the bank, ” an SHB representative emphasized.

Customers who have not yet standardized their biometric information should quickly access the latest version of the SHB Mobile/SHB SAHA application to complete the setup in 5 easy steps. Alternatively, customers can verify their identity directly at all SHB transaction points and branches nationwide to ensure uninterrupted financial transactions.

Please note that customers can only update their biometric data through the SHB Mobile/SHB SAHA e-banking application or directly at SHB transaction points nationwide. Alternatively, customers can contact the 24/7 Customer Service Center via hotline *6688 for assistance.

Previously, to ensure that all Vietnamese and foreign customers using SHB services could update their biometric data according to Decision 2345, SHB continuously communicated instructions through multiple channels (newspapers, television, email, SMS, push app, etc.) with specific illustrations so that customers could perform the process themselves. If customers were unable to perform the process themselves, consultants at the transaction counter or customer service specialists with specialized chip reading equipment were ready to assist and support customers in completing the process.

SHB is also accelerating the development of a cleaned biometric database (comparing collected biometric data with the national population database managed by the Ministry of Public Security ) as well as reviewing, updating, and cleaning customer data to prevent fraud risks.

As one of the four largest private banks in Vietnam, with over 92% of its transactions conducted digitally, SHB recognizes the urgent need to implement Decision 2345 to protect customers when conducting online transactions. Over the past three years, the bank has strengthened its information technology infrastructure, standardized its database systems, and enhanced data security to create a crucial foundation for its subsequent transformation plans.

The bank also focuses on developing products and sales tools on digital channels, automating internal processes for management, digitizing operations, risk management, and applying artificial intelligence and Big Data to business activities. To date, more than 90% of key banking operations can be performed entirely through digital channels.

SHB is vigorously and comprehensively implementing its Transformation Strategy 2024-2028, accelerating digitalization and the application of technology in all operations, continuously improving its governance capacity according to international standards and modern models, while remaining steadfast in its commitment to sustainable, safe, and efficient development.

PV