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Saudi Arabian retail banking group Al Rajhi is using biometric technology to enable customers to print debit cards in seconds after proving their identity through a fingerprint scan.
The bank has made 100 self-service units, which it developed alongside Diebold Nixdorf, available through a distribution partner, Alhamrani Universal Company.
Biometric technology, such as fingerprint recognition, is being used in the finance sector for authentication, to make services more convenient while retaining security. It is another example of technology reducing customers’ need to visit a bank branch.
“We are delighted to be the first bank to introduce this unique feature in the region, which will provide our customers with a secured and individualised service in just a matter of seconds,” said Saleh Alzumaie, general manager of Al Rajhi Bank.
The self-service terminals will also enable customers to print cheque books, statements and other printed matter.
“In the Middle East, software-driven services such as digital onboarding and biometric authentication are readily being adopted,” said Habib Hanna, managing director of Diebold Nixdorf Middle East. “Diebold Nixdorf’s technology leadership is continuing to enable our customers to stay ahead in this rapidly changing, increasingly digital consumer landscape.”
Read more about fintech in the Middle East
- The Middle East has been slow to join the fintech revolution, but there is an opportunity for CIOs to help banks stride ahead as demand picks up.
- Middle East bank Emirates NBD is piloting artificial intelligence to automate customer services.
- European challenger bank takes its financial technology (fintech) model to the Middle East by opening an office in Dubai.
A report from FinTech Week last year said that less than 0.1% of fintech investment originates in the Middle East, but as regional governments push to become knowledge economies in the coming years, the global fintech gap is likely to close.
For example, in November Middle East banking group Emirates NBD introduced an intelligent virtual assistant for selected customers. The bank’s Future Lab, which is part of its digital strategy, began testing voice-based artificial intelligence in the form of chat bot Eva.