Santander is deploying facial biometrics to millions of its customers in Brazil.
The bank expects to invite 10 million private individuals and corporate customers to register to use the service.
Santander claims smartphone-based biometrics are a safer option than fingerprints for verification of identity.
“By opting for facial biometrics, clearance of transactions can be done remotely by the account holder,” said Marcela Ulian, Executive Superintendent for Digital Business at Santander Brazil.
Ulian added that the functionality is not compulsory, and users will have the option to disable it.
He explained that the bank will build its own facial biometrics database, which is considered more reliable than using a third-party one.
Overall, the technology is expected to enhance Santander’s fraud prevention algorithms and enable the instant detection of any suspicious transactions.
The technology is also anticipated to digitize a number of branch-based activities, such as transfers for car or property purchases that currently require Santander’s customers in Brazil to request authorization at the branch to prove the transaction is genuine.
Santander currently estimates that digital channels account for 92% of all transactions carried out by individual customers, while 95% of the transactional volume of business clients takes place online.
The Brazilian subsidiary of the Spanish bank estimates that facial biometrics will result in a further increase of mobile transactions of 2.5% for individuals and 5% for companies.
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