Pakistan turns to biometrics for banking
Wednesday, November 19, 2014
Pakistan’s central bank has revealed it will implement biometric technology for identity verification developed by the country’s National Database and Registration Authority (NADRA).
The NADRA biometric technology will be used to perform customers-due-diligence (CDD) procedures at the time of opening customers’ accounts and for over-the-counter (OTC) payment transactions.
The development was revealed at an international conference on “Innovations in digital finance for financial inclusion” organised by State Bank of Pakistan (SBP) in Islamabad in cooperation with the UK Department for International Development.