OCBC recently rolled out facial recognition technology on eight ATMs in Singapore making them the first bank in South-east Asia to take a step closer to eliminating a physical ATM card. This service will be first available to use to check account balances, and will progressively extend to other ATM transactions including cash deposits, funds transfer to other banks, cashcard top-ups, and credit card bill payments from next year. Kanv Pandit, Group Managing Director, Banking Solutions in Asia Pacific, FIS shares why banks are implementing these verification methods and what safeguards can banks put in place to address the risks that come along with it.

<p>OCBC recently rolled out facial recognition technology on eight ATMs in Singapore making them the first bank in South-east Asia to take a step closer to eliminating a physical ATM card.&nbsp;This service will be first available to use to check account balances, and will progressively extend to other ATM transactions including cash deposits, funds transfer to other banks, cashcard top-ups, and credit card bill payments from next year. <strong>Kanv Pandit, Group Managing Director, Banking Solutions in Asia Pacific, FIS&nbsp;</strong>shares why banks are implementing these verification methods and what safeguards can banks put in place to address the risks that come along with it.</p>

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