October 19, 2016 -
Indian financial services firm Ujjivan Financial Services announced plans last week to use biometric-enabled ATMs to serve unbanked and underbanked customers, according to a report by The Times of India.
Ujjivan is one of 10 entities to receive a small finance bank (SFB) license from the Reserve Bank of India.
Financial Software and Systems (FSS) (www.fsstech.com) will be providing its end-to-end “payments in a box” solution for Ujjivan.
The new ATMs will provide biometric authentication for customer through fingerprint recognition from the Aadhaar database, as well as be able to read EMV cards.
Ujjivan will also offer a regional language option in the 24 states, where Ujjivan will operate as a small finance bank.
“We will also support and assist customers who are first time users, by running financial literacy, LIVE demonstration and communication program demystifying ATM machines,” Ujjivan said in the press release.