Kenya: OKash to give loans using face recognition

24 August 2018

Money Transfer

A digital bank in Kenya plans to use face recognition for credit identity checks.

The feature is set up as a user sets up the Okash app by uploading a selfie as well as the back and front of the national ID.

The bank says the newly introduced feature has a capacity to prevent a borrower's information from being infiltrated by a potential third party fraudster.

“We are very happy to be the first financial technology app in the country to innovate and establish such a security system,” said Edward Ndichu, Managing Director of OKash in Kenya, reported Tuko.

“Within financial digital services, there is need to ensure that the customer is actually who they say they are. By implementing this new feature, we ensure the integrity of our customers and guarantee them 100% protection of their loans and personal information when using the app,” he added.

Source: TUKO.KE