Thailand’s Siam Commercial Bank (SCB) has further developed its partnership with 7-Eleven to improve agent banking services. 7-Eleven is an international chain of convenience stores in countries including Thailand.
Under the new partnership, SCB will allow customers to open a non-passbook savings bank account at 7-Eleven’s Counter Service using facial recognition technology. The facial recognition technology will be used to verify the customers’ identification.
The new service is expected to bring aboard more than a million customers this year, the media reported. Also, SCB’s partnership with Counter Service will make the latter a leading banking agent in the country.
It requires customers to insert their ID card in the Electronic Data Capture (EDC) device at the 7-Eleven stores to open an account. After that, they are expected to take a photo using facial recognition, enter their telephone number, enter an auto-generated PIN at EDC and confirm.
The new service will enable the bank to drive other financial offerings such as SCB Easy, credit & debit cards, Planet SCB cards, loans and investments.
SCB President Mrs. Apiphan Charoenanusorn told the media that, “This Digital Financial Partnership with Counter Service will extend the success of the Banking Agent service launched last year. This collaborative effort will help enhance the capabilities of our two firms in offering new banking service formats for customers, starting with simple cash deposit and withdrawal via Counter Service.”
Besides SCB, other banks in the country including Kasikornbank, Bangkok Bank, Bank of Ayudhya, TMB Bank and CIMB Thai Bank carry out electronic Know-Your-Customer (eKYC) with facial biometrics, the media reported.