The process of registration for millions of account holders in commercial banks through the biometric verification started in Pakistan.
The State bank of Pakistan SBP concerned for this decision is mandatory for all the banks to register the accounts of owner with an Electronic authentication. Although the process is totally handled by the employees manually.
It is also mentioned in express tribune that the State Bank of Pakistan (SBP) has decided, in principle, to conduct biometric verification of account holders to identify fake accounts and make banking operations trustworthy.
And they further mentioned that 50 million account holders are in Pakistan and also those who made account before 2016 are subjected to authenticate their accounts through bio metric system.
Most of the bank already aware account holders about the biometric verification through SMS. State bank of Pakistan has also given warning to the account owners to register themselves by June 30th 2019, The first deadline for the owners.
As the news became viral it is also expected that the banks may face a lot pressure and hard work for this process as the customers will come in rush and it will be difficult for them to accommodate each and every person. The customer who made account after 2016 will also face the customers rush and it will also irritate them for their own important work.
Besides the normal customers, there are different non-profit organizations and big firms owned bank accounts will also undergo such process. We think the process of other big customers would be slightly different just because of the heavy documentation.
The decision of starting bio metric verification seems like a step against the hackers attacked on Pakistani banks and looted the money.
One of the other reasons also highlight here about the billions of rupees founded on the shopkeeper account and other poor families that case was also become popular in Pakistan.