Biometric in Banking & Finance

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Biometric in Banking & Finance

Introduction :

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Sources says that, current status of financial inclusion at a country-wide level is 32% of the urban population has bank accounts, as opposed to only  18 % in rural areas. Aadhaar-based financial inclusion can help banks and local officials meet their financial inclusion targets.

STQC Certified  Single Fingerprint Scanner enBioScan-C1 (HFDU08), from BioEnable will be the most flexible and user friendly product in the industry as the customers will be benefited for its Ergonomic design and easy to use.

This is STQC (Standardization Testing and Quality Certification) Certified Scanner so it makes it superior in terms of Quality and reliability.

enBioScan-C1 (HFDU08)is already being used in Following Projects :

The system addresses Bank‘s need for a centralised system that can support both on-line and off-line bank branches.of Biometric Based Technologies like ATM, handheld devices and scanners. Different authentication techniques are being used by bank, here is the listing of all the banks where STQC Certified  Single Fingerprint Scanner enBioScan-C1 (HFDU08) is used:

1. Canara BANK  

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 Canara  Bank is using our Biometric device all over the India for:

1. Core Banking system (CBS).

A core banking system is the software used to support a bank’s most common transactions. Elements of core banking includes:

1. Making and servicing loanscore-banking

2. Opening new accounts

3. Processing cash deposits and withdrawals.

4. Processing payments and cheques

5. Managing customer account

2. eKYC (Electronically Know Your Customer)

  eKYC service is offered by UIDAI and it’s main objective is for the verification of his/her credentials digitally.So for the verification purpose our Biometric device is placed across India . The core idea of the e-KYC Aadhaar service is to enable individuals to authorise service providers to receive electronic copy of their proof of identity and address.

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  • Fingerprint based beneficiary authentication
  • One time password based beneficiary authentication
  • Integration with Core banking system or Customer Acquisition Application

2. Bajaj Allianz 

  • download (2)Bajaj Allianz is using our Biometric product for  Time and Attendance system which provides many benefits to the organizations. It enables an employer to have full control of all employees working hours. So our Biometric device is being used in the bank all over the India for Time & Attendance purpose where attendance of all the employees collected on the centralised server and hence in this way it is benefied to the organization.

  • For eKYC(Electronically Know Your Customer) purpose also our Biometric product is used by  Bajaj Allianz.

3.  The shamrao Vithal co-operation Bank limited

Shamrao Vithal co-operation bank limited is using our Biometric products for the eKYC purpose.

In India, customer needs to submit identity & address documents to several agencies to get the work done & this process of customer identification is known as eKYC (Electronically Know Your Customer).

By Using KYC (Know Your Customer) API, agencies can carry electronic identity verification using Biometrics/OTP  i.e. One Time Password (based on their choice) and obtain a digitally signed (UIDAI) Electronic identity document for storing within their system. This makes entire process simpler and cost effective for both  customers and agencies.

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4. Rajkot Nagrik Sahakari Bank limited  


logo (1)Rajkot  Nagrik  Sahakari  Bank limited is using our Biometric product for Software Security purpose,Like  PC log in .The computer program designed to enhance the  information security.

 

So for timageshat purpose our Biometric product is used in the Rajkot Nagarik Sahakari Bank for the security of the software .Software security assurance is a process that helps design and implement software that protects the data and resources contained in and controlled by that software.

5. UCO BANK ,India

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UCO  Bank is using our biometric device for Core Banking system (CBS). A core banking system is the software used to support a bank’s most common transactions.So,here also our biometric product is being used.