Strengthening Digital Banking with Facial Recognition Technology

The evolving digital state of economies is also witnessing an evolution in corresponding threats and risks. And in the new era of digital banking, online fraud has emerged as the most concerning threat to transactions and banking security.

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According to a 2022 report by the Association of Certified Fraud Examiners (ACFE), a whooping USD 4.7 trillion is lost to online frauds out of the total global corporate revenue every year. This alarming number is expected to rise manifold in the coming years. As a virtue of technological ease to commit cybercrime, all that is nee