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August 7, 2012 /PRNewswire/ --
Mekong Development Bank triples current account base with launch of
Vietnam's first biometric debit card, through TEMENOS T24 Biometrics, at NCR ATMs across
Temenos (SIX: TEMN), the market leading provider of banking software, today announces the launch of
Vietnam's first fingerprint-enabled debit card, at Mekong Development Bank. The bank has implemented Temenos T24 Biometric fingerprint authentication to provide the 'unbanked' population of
Vietnam with access to banking services. Mekong Development Bank is already running the bank on T24, this was a simple modular upgrade to incorporate biometrics into the system seamlessly.
Biometric authentication lowers the risk of fraudulent transactions, whilst providing a more convenient banking service for both the rural and urban populations of
Vietnam - of a population of 86 million people, only 20% of
Vietnam has a bank account. Since the initial launch in June, Mekong Development Bank's current account base has tripled, and the deposit balance per debit card account is two times higher than a regular account without a debit card. Customer fingerprints will be captured by Mekong Development Bank at the point of opening an account - and then used at any one of 33 NCR SelfServ™ ATMs across
Vietnam. This will be extended to other touch points in the near future in line with Mekong Development Bank's proposition to make things simple for the customer.
Nicholas Chee,deputyCEO and head of consumer business,Mekong Development Bank says: "Being the first bank in
Vietnam to bring biometric fingerprint authentication to its customers confirms Mekong Development Bank's commitment to providing the only truly convenient and personal banking experience available in the region. Temenos delivered us a state of the art capability in less than six months, which simply plugs into Temenos T24 - our existing core banking system. Incorporating the technology at NCR SelfServ™ ATMs across
Vietnam ensures that customers experience consistent biometric fingerprint capabilities throughout the country. Preliminary research shows that an overwhelming 91 percent of customers surveyed after activating their debit card would recommend that their family and friends sign up for the product."
Lee Volante, director business solution group for APAC,Temenos says: "For decades, banks worldwide have used biometrics for security and access control - to access vaults, etc. But this technology is only starting to permeate the consumer experience on a mass scale in developing countries, where it has commercial value as a means to customer acquisition. Mekong Development Bank is a true pioneer in its adoption of this technology, which will help the bank to continue to build market share with its easy-to-use and convenient consumer technology. We're delighted that T24 Biometrics is enabling this new banking paradigm in
Mike van der Wal, managing director of NCR in Southeast Asia, comments: "More than half the world's population - concentrated in developing markets such as
Vietnam - does not access formal banking services. Mekong Development Bank's biometric NCR ATMs, which identify consumers by their fingerprint in place of a personal identification number, represent a major step forward in bringing banking services to the entire population of
Vietnam. Mekong Development Bank's customers can now enjoy convenient access with increased security."
Founded in 1992, Mekong Development Bank re-launched in 2009 under a new dynamic, modern, professional and convenient brand. Pivotal to this ethos is biometric authentication, which will revolutionise the way banking is undertaken in the country and grow Mekong Development Bank's market share.