Capitec Bank To Introduce Biometrics

Initially, the IdentityX platform will enable clients to digitally onboard so they may perform everyday banking transactions by using their own biometric characteristics.

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Biometric verification. Modern young woman with the phone. Artem Oleshko / Shutterstock.com
Biometric verification. Modern young woman with the phone. Artem Oleshko / Shutterstock.com

Capitec Bank wants to provide a superior customer experience and South Africa’s fastest growing bank  is planning to introduce biometrics.

The banking group, which has more than 10.5 million active clients, has opted to take advantage of Daon‘s IdentityX mobile authentication platform.

It has signed a multiyear agreement to collaborate with Daon over IdentityX.

A mobile-based solution, IdentityX supports facial, fingerprint, and voice recognition, allowing for strong end-user authentication through a smartphone.

Initially, the IdentityX platform will enable clients to digitally onboard so they may perform everyday banking transactions by using their own biometric characteristics.

Capitec Banking App
Capitec Banking App

The move to adopt IdentityX is part of Capitec’s strategy to strive to improve clients’ financial lives by saving time and money through advanced functionality, coupled with enhanced security and convenience to clients throughout the digital identity lifecycle.

“Capitec remains committed to providing an all-inclusive banking solution and harnessing the power of technology to make interactions easier and simpler,” said Wim de Bruyn, executive information technology at Capitec.

“We are eager to work with Daon to bring new and innovative solutions to our clients so we can continue to keep their banking experience affordable and secure.”

Together the two organizations will collaborate on innovative solutions for the bank’s clients across a range of engagement channels, using Daon’s expertise and leveraging the human authentication capabilities of the IdentityX platform.

“Daon is excited to partner with Capitec to deliver digital onboarding and authentication to its clients,” said Tom Grissen, CEO, Daon.

“We share in Capitec’s mission for simplicity and client empowerment through convenient and secure choices for mobile banking.”

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