The Digital Identity System (SID in Spanish) is a new platform that is connected to the database of the Office of Vital Statistics (RENAPER in Spanish) to remotely validate a person’s identity using facial recognition technology.
This technology will let you carry out secure transactions from any device following a few simple steps.
How does it work? Scan the QR code, take a picture of your ID (front and back) and follow the steps to validate your identity using the front-facing camera of your device.
The SID will be implemented in August by the financial and fintech sectors, which have already completed the tests conducted by the BCRA’s Financial Innovation Work Team.
The SID will let you open an account and apply for a loan, among other transactions, without going to the bank, thus contributing towards greater access to bank services and financial inclusion.
July 18th, 2018