BANKING TECHNOLOGY | Staff Reporter, Taiwan

Taiwan embraces facial recognition in online banking

Taishin Bank will utilise the technology for clients with iPhone X by Q3.

Taiwan has went one notch higher in facial recognition technology with Taishin International Bank expanding the service into its online banking starting Q3, reports Taipei Times.

Clients with iPhone X will be able to log into their accounts using the device’s facial recognition feature. Taishin will progressively extend the service to all of its clients.

Previously, Taishin has unveiled ATMs with facial recognition software at four of its local branches and three convenience stores and has also adopted the scheme for its wealth management services in May.

Other local banks such as CTBC Bank and E.Sun International Bank have also ventured into facial recognition at some of their ATMs by the end of 2018. Taishin and E.Sun’s ATMs allow clients to make withdrawals without bank cards whilst CTBC’s software can detect whether a user is engaged in suspicious activity or is being manipulated by scammers.

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