Hanoi: The VNPT eKYC – an artificial intelligence (AI) platform developed by the Vietnam Posts and Telecommunications Group (VNPT) for electronic identification and verification – has freshly recorded over 1 billion user requests, establishing itself as the first of its kind in Vietnam to reach this mark.

After half a decade of providing its electronic Know Your Customer (eKYC) service, the VNPT has served over 100 banks, financial institutions, telecom and e-commerce entities, facilitating the electronic identification for over 40 million people.

The VNPT eKYC system processes an average of 600,000 requests per day, with over million requests handled on peak days.

The State Bank of Vietnam has issued a decision requiring credit institutions to implement biometric authentication for transactions exceeding 10 million VND (416 USD) and other significant ones starting from July 1, 2024.

Experts assess that opting for domestic solutions is the optimal choice for banks and financial institutions due to their r
apid implementation and reasonable costs. They also adhere to global technology standards, offering scalability and high readiness.

Thanks to advanced AI models, the VNPT eKYC boasts a capability to verify facial biometric data with an accuracy of up to 99.99%./.

Source: Vietnam News Agency