FinancialTechnology

ME by TMB Leaves BOT Sandbox after Passing Facial Recognition Test Assisting Customers to Open Accounts Easily and Securely without a Need to Go to Branches

ME by TMB gains permission from the Bank of Thailand (BOT) to leave the first phrase of BOT Regulatory Sandbox, where Facial Recognition Technology is tested for the bank account opening service. Enabled by e-KYC Technology for identity verification, starting today customers can open ME SAVE account via ME by TMB application by simply using their passport, along with National ID card and android Smartphone equipped with NFC function. This service offered by ME by TMB would certainly assist customers to have convenient, fast and secure account opening service without having to go to branches, reinforcing its leading position as the first digital banking in Thailand. Meanwhile, ME by TMB proceeds to the second phrase of BOT Regulatory Sandbox, the testing ground of its Cross-Bank Saving Account Opening Service via the NDID Platform with the objective to improve financing experiences for Thais, which will be ready for the service shortly.

Dr. Benjarong Suwankiri, Head of ME by TMB, the first digital banking leader in Thailand, revealed that TMB has designated ME by TMB to take part in testing ME SAVE saving account opening service via digital platforms using Electronic Know Your Customer (e-KYC) for identity verification. Recently, the Bank of Thailand (BOT) has granted the permission to ME by TMB to leave the first phrase of the sandbox. Starting today, customers can easily open ME SAVE account with Facial Recognition Technology via ME by TMB application by simply using their passport, along with their National ID card and android Smartphone equipped with NFC function anywhere and anytime without a need to go and verify their identity at branches.

 In the meantime, ME by TMB continues to develop its service to continuously enhance the financial experiences for Thai people. Currently, ME by TMB is entering the second phrase of BOT Regulatory Sandbox, where the Cross-Bank Saving Account Opening Service via the NDID Platform, equipped with e-KYC technology is tested for identity verification using only national ID card via both android and iOS Smartphone. This latest service is expected to obtain the permission from BOT to leave the sandbox and soon become officially available for all customers. This would allow customers to securely and conveniently open their bank account, especially since their personal information can be cross-checked between banks without having to verify their identity at their respective branches. Meanwhile, it would also help reduce the hassle of the identity verification process for the banks by connecting the information among public, private and banking sector. As a result, the bank can lower their operating costs, which can lead to a higher interest rate and better service experiences for customers,” affirmed Dr. Benjarong.

“ME is still determined to develop products and services to create new experiences that fully meet the customers’ needs. Customers can be assured of their security as every step is under the security control standard of TMB, widely recognized across various organizations. Most recently, ME by TMB received 2 awards from The Asset Triple A Digital Awards 2020 held by The Asset, Asia’s leading financial and banking magazine, namely, Best Biometrics Project from the development of e-KYC system and Best Digital Insurance Experience from ME SURE product. Earlier, ME by TMB has received Best Mobile Initiative, Application or Programmer from The Asian Banker Thailand Country Awards 2019 hosted by The Asian Banker, Asia’s leading financial and banking magazine. These awards reinforce the Company’s determination to continuously create better financial lives for Thai people,” revealed Dr. Benjarong.

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