Indian microfinance firm Ujjivan Financial Services has announced plans to launch biometric ATMs for the unbanked and under-served customers using technology from Financial Software and Systems (FSS).
FSS said that its ‘Payments in a Box’ solution will offer the microfinance firm with end-to-end payments technology infrastructure for launching its small finance bank (SFB).
The technology will allow the bank’s ATMs to offer biometric access to its customers through their thumb prints linked with their Aadhaar Cards, as well as a high level of security by adding new features like EMV chip.
Ujjivan Financial Services CEO and managing director Samit Ghosh said: “Our primary goal is to reach out to the large unbanked populace through our Small Finance Bank, and provide them with easy-to-use banking services that will help them build a better life.”
“With this goal in mind, we have consciously chosen to align with best-in-class partners who will help us to launch and run our small finance banking operations efficiently and profitably. We chose FSS, because we are convinced that their understanding of the industry, their in-depth payments knowledge & expertise and the technologically advanced payments infrastructure will help us achieve our goals.”
Ujjivan Financial Services, which launched operations in Bengaluru in 2005, currently has a network of 469 branches and employs 8,258 staff across 209 districts in 24 states in the country.