Several commercial banks using chip-based ID cards for authentication

Many commercial banks in Vietnam are now piloting authenticating their clients via the chip-based citizen ID card connected to the National Population Database.


Accordingly, Asia Commercial Bank (ACB) has just worked with FPT Information System to launch an authentication solution using chip-based citizen ID cards called FPT.IDCheck and another solution to automate the bank’s professional process via robot named akaBot. The former allows the reading of chip-based citizen ID cards and authentication by face recognition with 100 percent accuracy.

Vietnam Public Joint Stock Commercial Bank (PVcomBank) also collaborated with Quang Trung Digital Technology and Service JSC. to allow the use of a chip-based citizen ID card to open a new bank account via Electronic Know Your Customer (eKYC).

In the upcoming time, over-the-counter transactions and online payments through banks are planned to have the authentication step via a chip-based citizen ID card. This is supposed to completely eliminate the act of renting, borrowing, and selling bank accounts which have existed for many years now.

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