Biometric identity verification in Vietnam: how to keep data secure
What the attendees at the Hanoi Fintech Revolution Summit talked about
A Vietnamese man was sentenced to 13 years in prison for stealing US company data. The perpetrator was able to hack into computers while at home in Vietnam. Moreover, people's data appeared on marketplaces for sale to other scammers.
There are advanced scammers in the country and people who find it difficult to protect their data. Biometric identity verification inspires more trust among people than other methods: SMS codes, passwords, etc. In this article, we will outline the situation with biometrics in the country and share information about the Fintech Revolution Summit in Hanoi.
Biometrics will come to the fore
The Vietnamese are familiar with different methods of identity verification. According to the 2022 Mastercard Index, three-quarters of consumers say biometric verification is better than other forms of identity verification.
“If stakeholders across the payments ecosystem develop protocols and provide education to allay consumers’ fears, biometrics may well become the predominant way of verifying a user’s identity when making payments”, - said Winnie Wong, Mastercard Country Manager for Vietnam, Cambodia, and Laos. Compared to the rest of the world, Vietnam has a big advantage.
What is the government doing?
The government is actively promoting biometrics. Since 2021, national ID documents with biometric data have come into circulation: fingerprints, a photograph, and a digital signature of the issuing agency. Everything is stored on a microchip. It is compatible with most ePassport readers around the world. This innovation reduces the time for passenger check-in and improves public order at the airport. Other areas, like medicine and finance, are also introducing biometrics.
The financial sector is more difficult. This sphere is the most unsecure to scam. Criminals have learned to intercept SMS codes and deceive bank checks. Outdated technology creates loopholes for scammers. Consumers want to switch to new solutions.
Biometric verification at airports
The Civil Aviation Authority of Vietnam begins to implement a facial biometrics system. The initiative was approved and the first pilot will be installed in the first quarter of this year. The Vietnamese authorities are confident that the system will improve social order at airports and reduce the time spent on checking in passengers.
The results of the pilot will be presented to the Ministry of Transport for further improvements. Passenger screening through facial biometrics should reduce air smuggling as well as other illegal activities.
Fingerprint verification in demand
At the Fintech Revolution Summit in Hanoi, the topic of security was one of the main ones. The organizers tried to highlight the problems in banking, finance, and other areas. The event attracted the attention of officials, top managers, and experts from various sectors of the economy.
The Verirgram delegation presented an up-to-date solution for biometric verification. The technology combines face and fingerprint verification on Vietnamese ID documents. This makes it possible to better recognize the identity of the consumer, even if he has an identical twin. The technology still needs to be improved, but it already has growth points.
Data security is paramount!
Summit participants contacted Verigram representatives on fraud issues. They showed off their apps and were surprised at how easy it was to hack them. Our experts know the loopholes of legacy technology.
Verigram participated in discussions on the security and development of biometric verification technologies. We were happy to present our technologies and share expertise from Central Asia. We thank the organizers for live communication with local top managers, the exchange of experience with summit participants, and the opportunity to explore the technology market.