Capitec Bank has announced that it has partnered with the Department of Home Affairs to combine biometric databases to combat identity fraud.<\/p>\n
Since the bank’s launch in 2001 it has made use of customers’ fingerprint details, captured in its database, for banking transactions.<\/p>\n
The bank’s biometric database now links to the Department of Home Affairs\u2019 database, “making it much harder for criminals to commit fraud against Capitec Bank customers,” it said.<\/p>\n
The fingerprint and photographic recognition technology is used in-branch when clients open an account and any time they need to liaise with a consultant.<\/p>\n
A fingerprint serves as a signature, enabling the transaction to be processed in real-time, while every significant change of information on a client\u2019s account can only be completed with the client\u2019s fingerprint verification.<\/p>\n
Capitec has also implemented the biometrics security among its staff, so when staff members conduct a transaction for clients, the employee’s fingerprint will be directly linked to the specific transaction.<\/p>\n
“Our customers have instant account access, in real-time, and can rest assured that only they can transact on their own account,” said Capitec marketing and corporate affairs executive, Carl Fischer.<\/p>\n
“Moreover, important information on the client\u2019s internet profile or bank account cannot be changed without their fingerprints being presented in branch.\u201d<\/p>\n
According to Capitec, as of January 2015, over 1.5 million fingerprints have been scanned into its database.<\/p>\n
Capitec announces new fees for 2015<\/a><\/strong><\/p>\n