West African Micro Credit Bank Chooses M2SYS Fingerprint Biometrics

May 24, 2012 - 

To sustain customer trust in the banking system, ASMAB is adapting the M2SYS Hybrid Biometric Platform technology that uses fingerprint biometrics to identify their clientele. The move comes as a means to prevent loan fraud and also to maintain customer confidence in the banking system.

A partnership of M2SYS and HPC Informatique has made the implementation of the fingerprint banking technology possible. HPC Informatique is a Benin solutions provider that offers a diverse portfolio of services and business solutions. They also sell high-tech products and technologies at reasonable prices.

ASMAB is one of the largest micro credit or financing bank that has their headquarters in the capital city of Cotonou, Benin. Modeled after the Bangladeshi Bank Grameen, it aims to lend money to the poor in order to suppress loan sharking and encourage deposits or savings.

HPC Informatique was consulted by ASMAB to formulate a banking security solution that would correctly identify potential loan applicants. The tightened security measure was imposed to avoid fraudulent applications and discourage the exploitation of the loan process. The solution to the problem was answered by adapting the Hybrid Biometric Platform, which uses fingerprint biometric technology.

M2SYS Technology offers biometric software that is simple to integrate in any system and which makes it affordable for most business enterprises. They also provide technical support in helping their clients find the right kind of biometric technology, according to their needs.

HPC Inforamtique started out as a computer sales company in Benin in 2001. They later on expanded their business to include IT infrastructure, personal computing and access devices. The company strategy is to offer a wide selection of services and technical support at an affordable price.

The partnership of M2SYS and HPC helped with spreading the many benefits and uses of biometric technology in the banking system. It has not only tightened security but has also prevented cases of fraud.

Can biometrics be successful adopted by micro-credit lenders?

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.