Axis Bank introduces iris authentication for Aadhaar-based transactions
12th August, 2018Category:
Axis Bank has become the first bank in the country to introduce Iris Scan Authentication feature for Aadhaar-based transactions through its micro ATM tablets. Micro ATMs completely eliminate the requirement of debit cards, passwords, PINs, and user IDs, and empower consumers to avail banking services using only their Aadhaar numbers and biometrics (iris scan/fingerprint scan). The bank has deployed highly secure iris powered micro ATM tablets which are STQC certified and UIDAI compliant registered devices with completely integrated iris sensors. Axis Bank is presently running a pilot program for its customers at eight branches in rural segment. The Bank is also exploring the application of iris-based Aadhaar authentication for varied services such as loan processing, insurance, eKYC account opening and others, most likely extending to the semi-urban and urban regions as well.
Iris scan technology is completely contactless and provides up to 98.2 per cent authentication success rate (as per study conducted by the International Centre for Biometric Research) and offers an edge over other prevalent biometric modes.
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