{"id":13904,"date":"2019-10-22T06:41:34","date_gmt":"2019-10-22T06:41:34","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=13904"},"modified":"2019-10-22T06:41:34","modified_gmt":"2019-10-22T06:41:34","slug":"biometric-identification-still-far-off-for-kazakhstan-s-financial-sector","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/biometric-identification-still-far-off-for-kazakhstan-s-financial-sector\/","title":{"rendered":"Biometric identification still far off for Kazakhstan\u2019s financial sector"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">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\u2019s biometric identification capabilities. And even within those 3 institutions, testing is only happening with employees and not with consumers.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All 3 financial institutions have encountered issues during testing that have dampened optimism for shorter-term implementation. These issues include technology-related issues as well as regulatory ones. These issues, as well as those that appeared in Russia\u2019s Unified Biometric System (EBS), have caused Kazakhstani players to proceed with caution. Financial institutions in Kazakhstan are also concerned regarding the cost of implementing such systems. For example, Russia\u2019s EBS cost USD 3.8 million to create, and another USD 22.8 million is expected to be spent on further developing it over the next 5 years. Beyond that, there are also costs associated with maintaining and connecting to the system.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While biometrics is widely seen as a step to greatly reducing fraud and increasing financial security, it is clear that much work remains to be done in order to get to a point where such a system is reliable and effective.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-13904 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Cash vs card: Kyrgyzstan\u2019s move towards non-cash payments'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/cash-vs-card-kyrgyzstan-s-move-towards-non-cash-payments\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/09\/kg-non-cash-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10811\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10811'>\n\t\t\t\tCash vs card: Kyrgyzstan\u2019s move towards non-cash payments\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Uzbek startup MARTA wins special award at Visa Everywhere Initiative competition'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/uzbek-startup-marta-wins-special-award-at-visa-everywhere-initiative-competition\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/uzbek-startup-marta-wins-special-award-at-visa-everywhere-initiative-competition-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13277\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13277'>\n\t\t\t\tUzbek startup MARTA wins special award at Visa Everywhere Initiative competition\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Top RegTech Trends for 2018: Expert Opinion'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/top-regtech-trends-for-2018-expert-opinion\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/abstract-background-with-lines_1127-44-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9300\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9300'>\n\t\t\t\tTop RegTech Trends for 2018: Expert Opinion\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>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\u2019s biometric identification capabilities. And even within those 3 institutions, testing is only happening &hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,76],"tags":[197,206],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13904"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=13904"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13904\/revisions"}],"predecessor-version":[{"id":13905,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13904\/revisions\/13905"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=13904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=13904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=13904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}