HO CHI MINH (ANN/THE VIETNAM NEWS) – The Vietnam Posts and Telecommunications Group (VNPT) has reached a groundbreaking milestone with its VNPT eKYC, an artificial intelligence (AI)-powered electronic identification and verification platform.
This solution has recently surpassed one billion user requests, a first for any service of its kind within Vietnam, highlighting its extensive adoption and efficiency in meeting the needs of digital verification.
Over the span of five years, the VNPT eKYC has revolutionised the way electronic customer verification is conducted, serving an impressive roster of over 100 banks, financial institutions, telecom companies, and e-commerce platforms.
Its services have significantly simplified the identification process for more than 40 million individuals, showcasing its vital role in the digital transformation of Vietnam’s economy.
On a daily basis, the VNPT eKYC system efficiently processes an average of 600,000 requests, with numbers soaring to over a million on high-demand days.
In a pivotal move, the State Bank of Vietnam has mandated the use of biometric authentication for transactions over VND10 million (approximately USD416) and other significant transactions, effective from July 1, 2024.
Industry experts have lauded the decision to opt for domestically developed solutions like the VNPT eKYC, citing their rapid deployment capabilities, cost-effectiveness, and compliance with global technological standards.
These factors make domestic solutions particularly appealing for banks and financial institutions looking to enhance their security measures and operational efficiency.
One of the standout features of the VNPT eKYC is its advanced AI technology, which enables the system to achieve facial biometric verification with an accuracy rate of up to 99.99 per cent. This level of precision ensures that the system is not only secure but also incredibly reliable, offering peace of mind to both the institutions and their customers.
The success of the VNPT eKYC platform is a testament to Vietnam’s prowess in developing cutting-edge digital solutions that cater to the evolving needs of its economy and society, positioning the country as a leader in technological innovation within the region.
