Thai central bank authorises facial recognition as KYC tool
Bank of Thailand says move will help reduce spread of coronavirus
Thailand’s central bank has allowed five commercial banks to start using facial recognition to verify the identity of new customers, it announced on July 24.
A total of 14 banks and non-banking financial institutions applied to use the biometric technology as a know-your-customer, or KYC, tool. Five firms – Bangkok Bank, CIMB Thailand, Kasikornbank, Krungsri and TMB – passed the tests run by the Bank of Thailand in its regulatory sandbox.
The approval will help cut physical contact and
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