Axis Bank introduces iris authentication for Aadhaar-based transactions

Mumbai (Maharashtra) [India], August ten (BusinessWire India): Axis Bank has become the primary bank within the country to introduce Iris Scan Authentication feature for Aadhaar-based transactions through its small ATM tablets.
This service, which needs a client to scan their iris on a pill, can boost the bank’s money inclusion efforts by creating Aadhaar authentication method hassle-free and providing easier access to digital banking for shoppers particularly within the rural components of the country.
Micro ATMs fully eliminate the necessity of debit cards, passwords, PINs, and user IDs, and empower shoppers to avail banking services victimization solely their Aadhaar numbers and bioscience (iris scan/fingerprint scan). The bank has deployed extremely secure iris power-driven small ATM tablets that square measure STQC certified and UIDAI compliant registered devices with fully integrated iris sensors.
Iris scan technology is totally contactless and provides up to ninety eight.2 per cent authentication success rate (as per study conducted by the International Centre for Biometric Research) and offers a grip over alternative current biometric modes.
“We square measure delighted to introduce the iris authentication feature for Aadhaar-based transactions. we’ve got engineered this feature during a means that improves dealing expertise over small ATMs by creating Aadhaar authentication method hassle-free and easy for our customers, particularly senior voters and people from far-flung rural regions World Health Organization typically face rejections whereas victimization alternative biometric modes. we have a tendency to feel that the iris scan technology has profound potential in authentication house within the future, as Bharat continues its push to changing into a less-cash society,” aforementioned Rajiv Anand, decision maker – Retail Banking, Axis Bank.
The process of dealing through iris scan is incredibly straightforward. client have to be compelled to choose the required service (funds transfer, money withdrawal) and feed-in their Aadhaar numbers within the small ATM. Next, they’ll got to select ‘IRIS’ because the desired mode of authentication. Verification are done by scanning the eyes of the shoppers through the tablet’s iris device camera in 3-5 seconds. The dealing are completed once the biometric details square measure verified from the UIDAI information.
Axis Bank is presently running a pilot program for its customers at eight branches in rural section mostly covering areas of Punjab, Haryana, Gujarat and province. The Bank is additionally exploring the appliance of iris-based Aadhaar authentication for various services like loan process, insurance, eKYC account gap et al, possibly extending to the semi-urban and concrete regions additionally. (BusinessWire India)

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