ATIB introduces biometric KYC as part of its digitalisation process
By Sami Zaptia.
London, 14 December 2019:
Libya’s leading private sector bank, Assaraya Trade and Investment Bank (ATIB), is introducing biometric identification as part of its electronic Know Your Client/Customer (e-KYC) system. It claims that it is the first bank in Libya to introduce biometric identification.
The system will use fingerprint and facial recognition technology which it says does away with the need for paper-based signatures. It assures the public that all its data will be encrypted and saved in secure databases.
The bank says that the new service is part of its overall digitalisation process that it has launched this year to have all its banking services digitalised by 2022. It says that the most important element of digitalisation is the verification (KYC) of customers and that biometric identification is the cornerstone of any digitalisation project.
The bank adds that biometric identification guarantees 100 percent safety.