JS Bank, Paysys Labs to launch mobile based bio-metric solution

KARACHI: JS Bank signed an agreement with Paysys Labs to launch the first ever mobile based biometric solution in Pakistan, Instascan. The signing ceremony between JS Bank and Paysys Labs was attended by JS Bank Chief Information Officer Imran Soomro, Chief Digital Officer Khurram Shaikh, and Paysys CEO Karim Jindani.

The mobile based, a touchless biometric solution has been integrated with JS Bank’s branchless banking mobile application, JCash to biometrically verify customers for over the counter (OTC) transactions. JCash customers can now avail higher limits of Rs 50,000 for domestic remittances.

This breakthrough solution is powered by Diamond Fortress Technologies, Inc. which converts standard smartphone cameras into high-quality fingerprint sensors without any additional hardware.

The solution enables financial service providers to easily incorporate biometric authentication through open APIs, without having to incur the expense of developing purpose-built hardware and concerning themselves with form factor redesigns. This reduces cost and integration time so that they can get the solution in the hands of end-users faster as compared to typical hardware based touch sensors.

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Speaking on the occasion, Khurram Shaikh said, “JS Bank is pleased to be the first bank in Pakistan to introduce the mobile-based biometric authentication technology which will cater to our banking customers’ needs by providing a much more convenient way to authenticate themselves.”

Karim Jindani commented: “We strongly believe that secure and friction-less identity verification is one of the major challenges in digital financial services space in Pakistan. The biometric ID verification solution, Instascan, will provide financial service providers a seamless and purely digital onboarding process that can be used to authenticate and verify potential customers anywhere and at any time.”

 

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