“In the early phase, six banks -- Bangkok Bank, Bank of Ayudhya (Krungsri), Kasikorn Bank, CIMB Thai Bank, TMB Bank and Siam Commercial Bank -- will join the project, ” she said. “They will use facial recognition technology to verify customers’ identity when opening savings accounts at selected branches and channels. “Customers can conveniently log on to their account using facial recognition technology known as e-kyc [electronic know your customer] to verify their identity. Thakorn Piyapan, head of Bank of Ayudhya’s Consumer Group, Digital Banking and Innovation department, said that facial recognition will reduce the time needed to open a savings account by 83 per cent. Krung Thai Bank executive director Payong Srivanich said that the bank’s online savings account featuring digital identification technology will be operational next Friday (February 14).

Source: The Star February 07, 2020 01:52 UTC