A ceremony was organized at LRC, State Bank of Pakistan (SBP) on Wednesday, 26th September 2018, to recognize 17 Banks which have signed-up for 1LINK 1ID biometric interoperability scheme.
Mr. Syed Irfan Ali, Executive Director BPRG (Banking Policy and Regulations Group) SBP, was the chief guest of the ceremony which was attended by major stakeholders of the financial industry including banks, representatives from NADRA, BISP, Punjab Pension Fund, the World Bank, Fintechs, Telcos, Microfinance Banks, technology partners, consulting & legal firms, etc.
1LINK 1ID provides the rails to interconnect closed loop, biometrically enabled payment networks to perform transactions in an open loop environment. This will give more access points to common Pakistani citizens for financial services through one common platform.
This initiative will boost the NFIS’s (National Financial Inclusion Strategy) objective of making financial services accessible, simple and convenient for the underserved. The launch of 1LINK 1ID is a testament of the financial industry’s collaboration and commitment to providing easy access to financial services to the consumers.
The 1LINK 1ID platform has the capability to support biometric variants such as retina scan and face recognition in the future.
With the launch of the 1LINK 1ID scheme, not just on banks’ ATMs but across branchless banking agents, Pakistan becomes one of a handful of countries to have developed biometric interoperability at the grassroots level.