Amid a rise in digital banking in Singapore during the Covid-19 pandemic, DBS has partnered with the Government Technology Agency of Singapore (GovTech) to pilot the latter’s SingPass Face Verification technology.
The technology will enable Singapore citizens and Permanent Residents to sign up for DBS’ digital banking services from their homes, with instant access to their bank accounts and banking services.
This pilot programme aims to benefit more than one million DBS customers who have SingPass — Singapores national digital identification — and do not use digital banking services, of which over 60% are seniors aged 62 and above. For DBS customers unfamiliar with online onboarding, the SingPass Face Verification feature is designed to help expedite their digital banking registration process in a more intuitive and seamless manner.
“Together with GovTech Singapore, we aim to support those who are journeying into digital banking for the first time, and to help foster resilient digital habits that will last for years to come,” said Jeremy Soo, head of consumer banking group (Singapore) at DBS Bank. “In line with Singapore’s Smart Nation agenda, we have been introducing innovative digital solutions over the years that provide easier, more seamless ways to bank.”
Businesses match the user’s presented facial image against the government’s biometric database, and do not collect nor retain any data submitted. This helps ensure the user’s data privacy and security.
Previously, customers who signed up for digital banking services online were required to use their ATM, credit or debit card and PIN to complete the verification process before they could access digital banking services for the first time. Those who did not have their card and PIN would have to wait up to five working days to receive their items by post to activate their digital banking accounts.
Beyond the pilot programme, DBS customers will also have the option of using the SingPass Face Verification technology to sign up for other products and services by the end of 2020.