OCBC Bank announced today (March 18) the integration of facial biometrics into their ATMs to eliminate the need to carry around an ATM card that can be flown over or stolen.
This makes it the first company in Southeast Asia to enable facial verification for ATM banking transactions. Previously, it was the first and only bank in Singapore to introduce QR code withdrawals in July 2019.
The first transaction that can be carried out using face verification at the ATMs is balance inquiries.
This will first be rolled out at eight ATMs: OCBC Tampines Centers 1 and 2, Taman Jurong Mall, Great Eastern on Pickering Street, HDB Hub Level 1, 103 Yishun Ring Road, OCBC Campus, and Geylang Road 7-Eleven.
According to the bank, balance inquiries and cash withdrawals are the most widely used ATMs, accounting for almost 8 in 10 ATM transactions made by their customers.
How does it work
OCBC Bank is the first to use Singapore's national digital identity infrastructure, Singpass Face Verification, to securely verify customers for banking at ATMs without the need for ATM cards.
To use face verification at an OCBC Bank ATM, customers can select the ATM service they want before entering their NRIC number on the ATM screen.
They are then asked to position their face within a frame on the screen while a web-enabled camera scans their face and verifies the scanned image in real time against the national biometric database.
OCBC Bank's ATM network is digitally connected to the national biometric database, which contains images and identities of four million people in Singapore.
Once the face scan has been verified, the customer can proceed with their ATM transaction.
This convenient access to ATM banking services is a secure alternative to using physical ATM cards.
Facial verification is built with security features to prevent fraud, including liveliness detection technology that detects and blocks the use of photos, videos, or masks during the verification process.
Will be extended to other ATM transactions
Following the introduction of face verification for balance inquiries and cash withdrawals, it will be extended to other ATM transactions starting next year, including cash deposits, money transfers to other banks, top up cards and credit card bill payments.
While OCBC Bank has seen a significant increase in digital banking adoption among its customers, it expects ATM usage to remain high, with more than two million cash withdrawals per month.
Sunny Quek, Head of Consumer Financial Services at OCBC Bank in Singapore, is confident that this service will become more important among Singapore consumers as they are "avid digital users".
“Withdrawals from QR codes at ATMs increased by 88 percent in 2020 compared to the previous year. With many customers already accepting QR cash withdrawals without using an ATM card, the facial verification will be more convenient for customers when they access our bank contact points, ”he added.
Selected image source: OCBC Bank