Indian Microfinance Institution Ujjivan to Launch Biometric ATMs

Tuesday, October 18, 2016

Ujjivan Financial Services Ltd., (Ujjivan), a leading pan-India microfinance institution, which is in process of transforming into a small finance bank (SFB), today announced that it will provide the benefits of ATMs to its unbanked and under-served customers across the country by using biometric enabled machines.

The technology powering this initiative is provided by Financial Software and Systems (FSS), which is a global Payments and Fintech leader.

This partnership with FSS is part of Ujjivan’s continuing effort to increasingly offer strategic omni-channel access to meet its differing customer needs across the country in a safe and secure manner.

FSS is providing its “Payments in a Box” solution to support Ujjivan with end-to-end payments technology infrastructure for launching its SFB. Using this FSS solution, Ujjivan bank’s ATMs will provide not only biometric access to its customers through their thumb prints linked with their Aadhaar Cards but also highest level of security by adding new features like EMV chip in lines with latest guidelines of the RBI.

Source: Finextra Research (link opens in a new window)

financial inclusion, microfinance