Singapore’s OCBC Bank is using facial recognition technology to verify its customers at eight ATMs spreading across Singapore. A bank customer can authenticate their identity using the new age facial recognition technology at the ATMs, without using a card, for balance enquiries. The bank is planning to increase the usage of the technology for other banking services including withdrawals “progressively”, but gave no timeline on when this would be.
Federal Bank is using analytics to find where to open new ATMs and which ones need to shut down. IndusInd Bank’s is using it for customer analytics, fraud and risk analytics. DBS Bank is targeting the right products to the right customer using analytics. Axis Bank’s analytics team specialise in customer segmentation, need-based analysis and hyper-personalization of offerings. Yes Bank uses analytics for understanding customer behaviour.
Being India’s largest public sector bank with 58K ATMs, SBI frequently exceeds 30M transactions per day. Hence, to meet its transaction processing requirements, the bank has updated its payment switching system using ACI’s Retail Payments Solution. It enables SBI’s ATM network to acquire Visa, Mastercard, RuPay cards, as well as manage ATM/POS authorisations. Also, the solution executes bank’s complex switching needs with minimal downtime and business impact.