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Tag Archives: Identification

Ongoing digitalization efforts in Kazakhstan

Consumers choose to use digital services for one main reason – it solves an issue. In Kazakhstan, however, the adoption of digital services has been somewhat lower than in other countries. While a part of this lower adoption rate may be due to the consumer base in the country, the …

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Reform efforts driving Uzbekistan’s financial sector development

In recent years, the banking sector of Uzbekistan has been undergoing a number of reform efforts aimed at improving the availability and quality of financial services, something important for sustained economic growth. The main priorities have been on the further development of payment systems, strengthening the financial stability of credit …

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Russian banks to send biometric data to centralized database

Russia’s Central Bank and Rostelecom plan on using biometric data collected by financial institutions to fill out the Unified Biometric System (EBS). EBS, designed to facilitate the delivery of banking services remotely, was launched over a year ago for all financial institutions to add to and benefit from; however, only …

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Biometric identification still far off for Kazakhstan’s financial sector

In Kazakhstan, biometrics as an identification tool is still a far-away dream. Currently, the existing state database of citizens is being used for biometrics in the country. Although 11 financial institutions have connected the database, only 3 are actively testing the system’s biometric identification capabilities. And even within those 3 …

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Kazakhstan actively developing digital financial infrastructure

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The National Bank of Kazakhstan, together with the banking community, is implementing a number of new initiatives on the digitization of financial services such as its launch of the interbank Instant Payment System, a system which allows consumers to execute online payments instantly via a mobile number. The regulator is …

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18 payment predictions for 2019

Payments are a trending topic in the FinTech world. Here are 18 predictions for what’s in store for payments in 2019: APIs– every board room is discussing APIs, but the conversations around them will most likely start to shift to proofs of concept as innovation continues to accelerate. Real-time– the …

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How events from 2018 will impact FinTech in 2019

A lot happened in 2018 – everything from Facebook’s Cambridge Analytica scandal and the net neutrality debate to cryptocurrency’s volatility and Brexit negotiations. Many of these events will impact FinTech in 2019, especially in the following areas: Going cashless – 2018 saw more and more cashless options being delivered to …

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The rise of biometric bank cards

Biometric bank cards are quickly emerging as a possible new reality that could make their way to markets soon. The cards, which look and act much like traditional bank cards, offer an additional layer of identification by requiring that fingerprints confirm payments. For the cards to be used, power must …

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FinTech lab to be created in Uzbekistan

The first FinTech lab in Uzbekistan was announced at the ‘Open Innovations in the Banking Section’ session of the International Press Club. The FinTech lab will focus on facilitating the creation and testing of new FinTech technologies and products as well as foster an atmosphere of cooperation between technology suppliers, …

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Infographic: using communication apps in the financial sector

Production and effective communication is vital for any financial company in the modern world. Communication apps such as WhatsApp offer easy communication solutions; however, it is important that financial companies remain compliant with regulations when using them. Check out this infographic for useful tips on how to compliantly use communication …

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The future of banking: secure omnichannel banking

As a broader range of banking services are becoming available on a variety of new platforms, consumers are increasingly using a combination of channels to conduct banking activities. The next wave of innovation in the banking sector, however, seeks to move past physical contact (e.g. going to a bank, using …

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The 2018 Global Fraud and Identity Report

Just how well-equipped are businesses at recognizing their customers’ identities online? What types of investments are they making in customer recognition? And to what degree are they able to accurately identify customers and manage fraud risk? The 2018 Global Fraud and Identity Report, based on input from more than 5,500 …

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Five reasons passwords are here to stay (at least for now)

Biometric technology such as fingerprint and facial recognition have been heralded for years as a replacement for passwords. While this may be true in the distant future, there are a few challenges that have yet to be solved before they can fully replace passwords: Biometrics can’t be encrypted – biometrics …

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State use of biometric data: good or bad?

Biometric data is being harnessed the world over as a way of identifying us and protecting us from the fraudulent use of our personal information. And governments around the globe are making good use of such data. For example, India’s Aadhaar system, which makes use of biometric data to get …

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Infographic: 2017 Consumer Cybersecurity Confidence Index

In an increasingly digital world, consumers want to ensure that their personal information is not at risk of falling into the wrong hands. Here’s a quick overview of consumer opinions about cybersecurity. DT Fraud Conference 2019 – banking and payments 20 ways to achieve digital transformation New international standard for …

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Finland using blockchain technology to help refugees

The Immigration Service of Finland has begun providing refugees with prepaid Mastercards rather than cash, allowing refugees to enter the blockchain-based system of unique digital identification information. This serves to benefit both refugees and the Immigration Service. For refugees, it allows for the identification of an individual, better facilitating employment …

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POPin Video Banking and MEA announce collaboration

US-based POPin Video Banking has teamed with mobile firm MEA Financial Enterprises to integrate the POPin platform into MEA’s Android and iOS digital banking applications. According to POPin, the partnership will allow banks using MEA applications to leverage video banking capabilities to expand services outside of branches on personal mobile …

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Beware of biometric identification systems

Biometric identification is gaining in popularity in Russia. In the near future in fact, it is expected that customers of Russian financial institution will be able to open an account or take a loan just by showing themselves on a camera or speaking a few words into a microphone. Despite …

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Digital banking: the future needing to be built today

With people spending an increasing amount of time in digital space and starting to use electronic money more often, the relationship between financial institutions and their customers is changing. Traditionally, financial institutions worked, essentially, around cash-based services that were provided through one channel: the branch. Financial institutions, growing with the …

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