Airtel Bank Launches Face Match: Biometric Anti-Fraud Tech for Secure Transactions

"Airtel Payments Bank has taken a significant step towards enhancing account protection with the launch of Face Match, a security feature that leverages facial recognition and machine learning algorithms to prevent fraudulent transactions.

The Face Match system calculates a threat score for each user based on factors such as user behavior, transaction patterns, and historical data. If the threat score surpasses a certain threshold, the system is activated, and the user receives a notification to verify their identity by taking a selfie. The selfie is then compared to their onboarding photo using facial recognition. If the match is successful, the user can proceed with transactions; if not, they must visit a banking point for biometric verification.

Airtel Payments Bank is a digital payments and financial services provider in India, operating under the umbrella of Bharti Airtel, one of the country's leading telecommunications companies. Established as one of India's first payments banks, it offers a range of services including savings accounts, mobile banking, and digital transactions. The bank aims to provide accessible and convenient banking solutions, particularly in rural and semi-urban areas, through its extensive network and integration with Airtel's mobile services.

The launch of Face Match comes at a time when banking fraud cases are on the rise in India. According to the Reserve Bank of India's (RBI) annual report for the fiscal year 2023-24, the number of banking fraud cases increased to 36,075 from 13,564 in the previous year, marking a nearly 300 percent increase over two years. However, the total amount involved in these frauds saw a significant decrease of 46.7 percent, dropping to Rs 13,930 crore from Rs 26,127 crore in the previous year.

Digital payment frauds have surged dramatically, with a more than fivefold increase in value, reaching 14.57 billion rupees ($175 million) in the fiscal year ended March 2024. This rise coincides with the rapid expansion of digital payment systems like the Unified Payments Interface (UPI), which has seen a 137 percent increase in transaction value over the past two years.

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Airtel Payments Bank was established in 2016 as one of India's first payments banks. It offers a range of services including savings accounts, mobile banking, and digital transactions. The bank aims to provide accessible and convenient banking solutions, particularly in rural and semi-urban areas, through its extensive network and integration with Airtel's mobile services.

Airtel Payments Bank is a subsidiary of Bharti Airtel, one of India's leading telecommunications companies. Bharti Airtel is a global telecommunications company with operations in 18 countries across Asia and Africa.

"Q: What is Face Match, and how does it work?

A: Face Match is a biometric security feature launched by Airtel Payments Bank to prevent fraudulent transactions. It uses facial recognition and machine learning algorithms to detect suspicious activity and requires users to verify their identity by taking a selfie.

Q: What is the purpose of the threat score calculated by Face Match?

A: The threat score is calculated based on factors such as user behavior, transaction patterns, and historical data. If the threat score surpasses a certain threshold, Face Match is activated, and the user is required to verify their identity.

Q: What happens if the user's selfie does not match their onboarding photo?

A: If the match is unsuccessful, the user must visit a banking point for biometric verification.

Q: How has the number of banking fraud cases changed in India?

A: According to the RBI's annual report, the number of banking fraud cases increased to 36,075 from 13,564 in the previous year, marking a nearly 300 percent increase over two years.

Q: What is the impact of the rapid expansion of digital payment systems on banking fraud?

A: The rapid expansion of digital payment systems like UPI has led to a surge in digital payment frauds, with a more than fivefold increase in value, reaching 14.57 billion rupees ($175 million) in the fiscal year ended March 2024."