Banco de Bogotá’s technological bet to improve its security
Through the implementation of machine learning and facial biometric identification, Banco de Bogotá seeks to guarantee greater security within its users, as well as to prevent and reduce cases of fraud due to identity theft.
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Hand in hand with Amazon Web Services (AWS), the e-commerce giant’s cloud computing company, the bank has developed a series of tools that seek to minimize risks during the use of its digital channels by its customers .
We have been working for a long time on authentication schemes for our clients to guarantee that operations are secure for them and that they are not subject to impersonation or spoofing, ”says Óscar Bernal, Vice President of Technology at Banco de Bogotá.
One of the latest innovations integrated into the bank’s platform is facial recognition to access the entity’s services, which is based on Amazon Recognition technology.
“This functionality is being integrated with the other authentication elements that the bank already has. This is a widely used solution and also allows image and video analysis, ”said Marcos Grilanda, AWS regional director.
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The introduction of this element of biometric recognition has allowed a decrease of 97 percent in cases of identity theft of clients of the financial institution.
This contrasts with the figures on this crime in the country, which during 2020 grew by 303 percent compared to 2019, according to figures from the Attorney General’s Office.
At this time, the implementation is enabled in the digital opening of a savings account, but the scalability of the tool is developed in another of the financial products, such as the credit card.
“Our digitization strategy made us the first bank in Colombia to launch the opening of savings and credit products in a 100 percent digital way, without lines, without papers and with the immediate availability of the benefits that these products provide to the customer. ”, Affirmed Bernal.
How does it work?
The new security measure will be enabled when the user enters the Banco de Bogotá mobile application. To enter, the client must enter their username and password. Once this step is completed, the platform will enable the device’s camera to perform facial recognition.
During this process, several aspects will be guaranteed, including that the client is alive and that impersonation is not made by means of a photograph or a static image.
“The life test will be validated and once the client is recognized and validated against a database of faces and with other additional elements of recognition and machine learning, the client can be validated to allow them to continue with the opening of the product”, Grilanda points out.
The process is short and lasts a few seconds, adds Bernal, who affirms that this type of update seeks to optimize the process for users, while increasing the level of security within the products.
“Through technology we can work on analytical models that allow us to understand user behavior and understand if their interactions and devices are safe. Everything that can be implemented in the future is very interesting, ”says Banco de Bogotá’s Vice President of Technology.
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