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Aleksandar Bogdanović, President of Executive Committee of Yettel Bank

Yettel Bank App: Second-Generation Video Identification

I am proud to lead our customers into a new era of secure digital banking by the end of this year, with the introduction of second-generation video identification: Liveness

As we move forward with launching the new Yettel Bank application, we have taken the first step towards creating a bank that prioritises your needs and preferences. As we advance along this path, we have placed the utmost importance on enhancing security measures, because safeguarding your data is our top priority. We have implemented the latest technologies and established stringent protocols to ensure that your data remains safe and protected at all times.

Technologies like facial recognition and fingerprint identification were once rare, while they are today popular features integrated into numerous applications, including the new Yettel Bank app. However, our drive to provide customers with uncompromising security has led us to seek solutions that set new standards in data protection. I am thrilled to announce that, by the end of the year, we will propel our customers into a new era of secure digital banking by introducing second-generation video identification: Liveness.

Introducing such functionalities is part of our vision for modern, secure banking. However, all efforts would be in vain without the support and examples provided by the National Bank of Serbia

Liveness is a state-of-the-art biometric solution that’s applied widely across the EU as a mechanism for identity verification at border crossings and by financial and other institutions offering personalised services. It represents video identification with individual characteristics that are almost impossible to copy or misuse. This advanced mechanism uses the device’s camera to thoroughly analyse facial characteristics and expressions, thus confirming the customer’s physical presence. Instead of biometric templates that smart devices store and use for facial recognition, Liveness identifies the actual person in real time and space with near 100% reliability.

This technology uses 3D face detection to eliminate all attempts at impersonation. This means that false objects, photographs, or video recordings cannot be used to create or access online accounts. In addition to increasing customer security and preventing potential data misuse, Liveness is also an excellent tool for enhancing the customer experience. It is well known that people dislike having to remember passwords and security questions, queue for verification, or fill out lengthy requests. By using second-generation video identification, we arrive at a simple solution to this problem, whilst also saving time and increasing data security in the online world.

Trust is crucial in digital banking, and we are committed to earning and maintaining it. Our proactive security strategy involves anticipating and preventing potential threats and continuously educating users on various aspects of online security to ensure the highest level of safety. Introducing such functionalities is part of our vision for modern, secure banking, and we are grateful for the support and examples set by the National Bank of Serbia. The NBS’s commitment to creating a stimulating regulatory environment, and to continuous innovation in the banking market, inspires our further development.

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