Vietcombank deploys biometric authentication

Biometric authentication for online transactions

Pursuant to Decision No. 2345/QD-NHNN dated December 18, 2023 of the State Bank of Vietnam on implementing safety and security solutions in online payment and bank card payment, from July 1, 2024, all types of online transactions of individual customers must be authenticated by biometric identification signs (currently authenticated by facial information) including: Transferring money within a bank with another account holder/transferring money between domestic banks/top-up of e-wallets with a value of over 10 million VND/transaction or a value of 10 million VND or less but the total transaction value in the day is over 20 million VND; Transferring money abroad; Paying bills for goods and services with a total transaction value of over 100 million VND in the day; Activating digital banking services for the first time or changing devices using digital banking applications.

To serve as a basis for transaction authentication according to regulations, the customer's facial image when making a transaction will be checked and compared with the customer's biometric data that has been updated at the bank (matched with the National Population Database; Identity Database or directly checked by bank staff).

Enhanced protection for online transactions

Biometric authentication using facial information (Facepay) is an additional authentication layer in addition to the current authentication layer using OTP messages (SMS OTP) or Smart OTP (when making a transaction with a prescribed value, the customer must successfully authenticate biometrics to be able to continue to the authentication step using SMS OTP or Smart OTP). The implementation of Facepay helps increase customer protection against the complex developments of fraud, theft of confidential information and appropriation of assets in cyberspace.

With the application of Facepay, even in the case of using tricks to steal customer information, criminals will hardly be able to carry out the act of dissipating assets through transferring large amounts of money to other accounts, and therefore, Facepay will contribute significantly to helping customers minimize losses when risks occur. This is a very strong and drastic step of the State Bank in strengthening the security and safety of online payments, thereby creating a healthy environment to promote the widespread and sustainable development of cashless payments.

Biometric authentication is applied to online transactions on VCB Digibank with the prescribed value and limit. For basic transactions serving daily essential needs such as money transfer/e-wallet top-up with a value of VND 10 million or less or a total transaction value of VND 20 million or less per day, payment of electricity, water, telecommunications, tuition, hospital fees... with a total transaction value of less than VND 100 million per day, customers do not need to authenticate with biometrics.

Three simple ways to update biometric information at Vietcombank

In the past, Vietcombank has worked closely with the Department of Administrative Police for Social Order (C06) - Ministry of Public Security to integrate the system, at the same time invest in technology infrastructure, service equipment and apply many modern solutions to bring the most convenient experience to customers when registering/updating biometric information as well as authenticating transactions using biometrics. Currently, customers can register/update biometric information in three very simple and quick ways as follows:

One is to update online via App-to-App connection between VCB Digibank application and VNeID application. With this method, customers only need to log in to VCB Digibank application >> Utilities >> Update biometrics >> Select "Electronic identification account (VNeID)" and follow the instructions on the screen.

To do this, customers need to have a VNeID level 2 electronic identification account and update the latest version of the VCB Digibank application. Vietcombank is the first bank to exploit the Electronic Identification and Authentication System through a direct connection between the VCB Digibank application and the VNeID application. This feature will be launched from July 1, 2024.

Second, update online via NFC connection between the chip-embedded citizen identification card (CCCD) and the phone. Specifically, customers log in to the VCB Digibank application >> Utilities >> Biometric update >> Select "Chip-embedded citizen identification card" and follow the instructions on the screen.

During the process, customers only need to "touch" the chip-attached CCCD to the back of the phone to update and authenticate information. At the same time, customers should note to use the latest version of the VCB Digibank application.

Third, update directly at Vietcombank transaction points. In case there is no level 2 electronic identification account or the phone does not have NFC or does not have a chip-embedded CCCD, or for some reason cannot be done online, customers can go to Vietcombank transaction points to update biometric information. The list of transaction points serving biometric information updates is provided on Vietcombank's website.

Customers only need to update biometric information once at the bank. If personal information and biometric information change, customers need to update it (unlimited number of updates). At the same time, customers should note that they should only update biometric information via the VCB Digibank application or directly at Vietcombank transaction points, absolutely do not update via any other website or application to avoid the risk of fraud.

With available platforms and careful and timely preparation, Vietcombank is committed to serving customers with biometric updates and authentication in the most convenient way, helping customers make safe online transactions, ensuring compliance with the regulations of the State Bank in Decision 2345.

FOR FOREIGN CUSTOMERS
For foreign customers, due to not having a chip-embedded ID card and not having information in the National Population Database, customers need to go directly to Vietcombank transaction points (any transaction points) with passports and documents proving the valid residence period to authenticate the facial portrait image. The implementation time is very fast, only a few minutes.
To inform foreign customers, Vietcombank has sent specific notices via OTT messages right on the VCB Digibank application.

Source: https://baotainguyenmoitruong.vn/vietcombank-trien-khai-xac-thuc-bang-sinh-trac-hoc-376083.html