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Brazilian bank Itaú Unibanco will roll out facial biometrics to fend off fraud in auto loan processes and improve customer experience.
As well as avoiding scams, the tool being introduced this month across over 10,000 locations is aimed at ensuring a smooth process when it comes to approving and releasing credit for customers who want to buy new and used cars.
Vehicle financing applications to the Brazilian bank that initiate at dealerships and partner stores are carried out in a platform provided by Itaú platform. Customers then provide their information and documentation so that the request can be sent over to the bank.
With the new technology, customers will be contacted automatically via SMS and email with instructions to activate
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