Thai central bank authorises facial recognition as KYC tool

Bank of Thailand
The Bank of Thailand
Photo: George Johnson

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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