Biometric registration will be of great benefit to bank customers, said Deputy Governor of the State Bank of Vietnam (SBV) Pham Tien Dung at today’s seminar on solutions to protect bank customers held by SBV in Hanoi.
Despite multiple attempts by a female bank employee to assist the customer in updating his information, the app repeatedly reported that the biometric update process could not be completed.
More than 13 million customers have completed facial biometric verification in online transactions over the first two days following the implementation of Decision No.2345/2023.
After July 1, transactions exceeding VND10 million per online transfer or VND20 million per day, as well as bill payments exceeding VND100 million, require facial verification, with many commercial banks reporting smooth implementation.
The new banking regulations requiring biometric authentication for high-value transactions took effect yesterday. However, the implementation encountered glitches, causing inconvenience for many customers.
It is an urgent need to strengthen security for online transactions amidst burgeoning cashless payments, an official from the central bank has said, referring to biometric authentication to be mandatory from July 1.
