FNB Averages 1.8m Transactions Monthly Using Online Fingerprint Verification
FNB has verified an average of 1.8 million transactions monthly using the Online Fingerprint Verification (OFV) system launched in 2014. This is just another measure the bank is using to protect the identity of customers at its branches.
Lee-Anne Van Zyl – CEO, Points of Presence at FNB says the increasing use of fingerprints as a form of identification has the potential to reduce identity fraud and fraudulent financial transactions.
“Online Fingerprint Verification offers some advantages, such as real-time authentication and increased accuracy, because no two fingerprints are alike. The system is linked to the Department of Home Affairs and allows for real time identity verification of prospective and exiting clients. The process is quick and reliable,” says van Zyl.
Since inception of the system in 2014, FNB has increased the number of verifications from 80 000 per month in 2014 to 1.8 million verifications per month, through the use of Online Fingerprint Verification (OFV) Biometrics.
Identity theft is a serious problem in South Africa, one which the financial services industry aims to fight jointly to ensure customer information is safe and secure and does not fall into the wrong hands.