China's Gui Lin City Bank has implemented software from payments software vendor Clear2Pay to meet customer ID security requirements set out by the country's central bank.
Belgium-based Clear2Pay says the bank has installed its interface software at 28 sites. The technology links the bank's customer account system with the citizen identity information database manitained by the Public Security Department in China. This enables real-time verification of identity cards used to open personal or corporate accounts.
Chan Mun Kiat, VP, sales, Clear2Pay China, says: "This enhanced security is mandated by a resolution of the Central Bank of China (PBOC). This new online identification, whereby each bank account can be matched with a true and identifiable person is a break-through for China in their fight against financial and identity fraud".
He Yin Wen, technical director, Gui Lin City Bank, says: "With this solution our bank helps to reduce the financial crime and fraud rate in our society and increases our customers' trust and loyalty towards us."