SPONSORED - The advent of the Fourth Industrial Revolution and the COVID-19 pandemic see many customer-facing businesses being disrupted, and the banking sector is no different.
There is an increasing need for customers to be able to do their banking digitally – not just from a convenience perspective, but also as a cost-saving measure, eliminating the need to go to branches.
But as the technologies used in the banking world become increasingly sophisticated, so do the criminals who are trying to swindle customers out of their hard-earned cash.
As a result, Absa is constantly developing new, innovative methods to safeguard customers' accounts and personal information – such as the Absa ID Facial Biometric technology.
This innovative feature will provide an additional layer of security for customers logging on to the Absa Banking App by allowing the service provider to consistently identify, verify and authenticate its customers across digital channels and devices, while also ensuring the safe storage of biometric data to prevent digital security breaches.
The Absa ID Facial Biometric technology validates a facial scan by detecting liveness, which means that fraudsters cannot pass a verification or authentication check with a picture or even a high-quality mask.
The system also guards against replay attacks, which occur when an attacker replays an existing video stream to a facial biometrics solution.
Absa ID Facial Biometrics enables identification and verification of the customer on their linked device when making immediate payments, ensuring protection against immediate payment fraud while avoiding automatic payment delays.
Absa ID Facial Biometrics was recognised internationally for its advanced digital security and technology at the Digital Banker MEA Innovation Awards 2021.
Absa has a solid history of commitment to digital banking security. The bank first initiated fingerprint biometrics and later added multi-factor authentication processes to its security measures. Further, Absa is the first and only bank in South Africa to have a free Digital Fraud Warranty, demonstrating the bank's trust in its security capabilities and the ability of its customers to defend themselves against digital fraud.
This feature is further proof that Absa does more so you can, with best in class digital security for safe and secure digital banking. And best of all, setting up facial recognition on your Absa Banking App only takes minutes.
Download the Absa Banking App today and link your devices using the latest, highly secure Absa ID Facial Biometric recognition technology. Simply enter your ID number and do a facial scan to link your phone to your Absa Banking App.
Remember to update to the latest version of the Absa Banking App and ensure that Absa has your latest cellphone number. If you’ve changed your cellphone number, please visit your nearest Absa branch.
Go to www.absa.co.za/biometrics to learn more.