India-based private sector lender Axis Bank has launched Iris scan authentication facility for Aadhaar-based transactions via its micro ATM tablets.
Aadhaar is a 12-digit unique identification number issued by the Indian government to every individual resident of India. It captures many details including biometric information.
Axis Bank has deployed highly secure iris powered micro ATM tablets with completely integrated iris sensors. Iris scan technology, according to the bank, is fully contactless and offers up to 98.2% authentication success rate.
Micro ATMs do not require debit cards, passwords, PINs, user IDs. Users can access banking services using only their Aadhaar numbers and biometrics such as iris scan or fingerprint scan.
A user needs to scan his/her iris on a tablet to avail this service. After scanning iris, they can opt for desired service including funds transfer, cash withdrawal and enter their Aadhaar number in the micro ATM.
Subsequently, the users need to select ‘IRIS’ as the desired mode of authentication. Within 3-5 seconds, verification is done by the tablet’s iris sensor camera by scanning the eyes of the customers.
Currently, the bank is running a pilot programme for its customers at eight branches.
Axis Bank executive director of retail banking Rajiv Anand said: “We have built this feature in a way that improves transaction experience over micro ATMs by making Aadhaar authentication process hassle free and simple for our customers, especially senior citizens and those from far flung rural regions who often face rejections while using other biometric modes.
“We feel that the iris scan technology has profound potential in authentication space in the future, as India continues its push to becoming a less-cash society.”
In future, Axis Bank plans to use iris-based Aadhaar authentication for varied services including loan processing, eKYC account opening and insurance, among others.