Saturday, February 9, 2013

Biometric ATM in India

Banking is very much part of people’s life today. We all are using banking services such as ATMs, net banking, online payment etc. which adds convenience to our life.  Technologies in banking sector have made our life very easy. The change in technology in banking services do impacts us. It changes the method how we are using banking tools and services.

The introduction of Biometric ATMs is latest entrant in the banking services. We all have seen and used traditional ATMs which accept our debit or credit card and we enter our PIN code and use banking services to deposit money, withdraw cash, check balance, request for check books etc. We truly trust the bank and ATM that we are using at that point of time.

As the technology evolves, it also brings some sort of risk with it. You might have read or know about ATM frauds, duplication of ATM cards, ATM skimming, unauthorized withdrawal of money. You also might have seen people and groups of thieves involve in such crimes. Banks and Bank regulator always try to bring and adopt technology which brings safety and security to the customer.

The Biometric ATM has been introduced to safeguard customers from all the frauds and unauthorized access to bank account.

How does Biometric ATM work? 

Biometric ATM works similar to traditional banks but it does not ask for a numeric password. Biometrics ATMs have attached scanner or sensor where you put your finger or palm. Your finger print acts like a password. Your finger print is then matched with the finger print stored in the bank centralized database. If it matches you are authorized to get access to ATM and your account.

To use Biometrics ATM the first steps is to visit your bank or branch and provide your finger prints to the bank so that it can be registered in the bank’s centralized system.

Finger prints are popular but a person Biometrics data can be divided into three categories:

Physical Biometric data
1.       Finger
2.       Hand or Palm
3.       Finger Print

Geometry Biometric data
1.       Eye
2.       Iris
3.       Retina

Behavioral Biometric data
1.       Voice
2.       Signature
3.       Typing
4.       Pointing

It depends on the bank what biometric data they want to store for their customer.  

Once your biometric data is registered you can use the Biometrics ATMs provided by your banks and use banking services.

(Image Source: CNN)

Biometric ATM Presence in India

Software vendors have developed biometrics solutions for the ATMs. FSS (Financial Software and System), CMC Limited (FACTS – Fingerprint Analysis and Criminal Tracking System), Axis technologies (Biometrics Retrofit Kit) are some of the leading vendors who have developed the solutions in biometrics space.

In India the first Biometric ATM was setup by ICICI bank in Andhara Pradesh in 2005. Today, State bank of India, Punjab National bank, Axis bank, Catholic Syrian bank, Grameen Vikas Bank all have setup Biometric ATMs.

One of the strong reasons these banks are setting up Biometric ATMs is rural population in India. People in rural and hill areas find it difficult to remember numbers as their PIN code. Biometric ATMs help them to overcome this problem and at the same time it adds safety and security in the banking process.

Biometric ATMs are very popular in Europe, Japan and Middle east. This technology is setting pace in India.

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