CrediCorp Bank, one of the largest in Panama, announced that it has begun the process of integrating biometrics solutions in order to protect and manage the identities of its employees and customers.
The hardware and software for the biometric measurement will be outsourced to a U.S.-based company. Biometrics is a method of uniquely identifying humans through means of physical traits, often fingerprints.
Panama has become a booming area for land investments and off-shore banking in recent years, as it is host to a bevy of retirees due to its affordable living. The new implementation by CrediCorp will be beneficial to customers needing insurance against identity theft.
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