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Home / News / Business News / DCB starts Aadhaar based ATM
  • Business

    DCB starts Aadhaar based ATM

    Achin Garg
    Written by
    Achin Garg
    Mail
    Last updated on Apr 03, 2016, 04:09 pm
    DCB starts Aadhaar based ATM
    Credits:
  • DCB bank, for the first time in the country, has started an Aadhaar based ATM facility that does not require pin but asks for biometric details.

    According to the bank, a customer can transact both by swiping an ATM card or just by punching in the Aadhaar number in the ATM machine.

    For securing the identity, the fingerprint is used instead of pin number.

  • In this article
    DCB Bank: A profile What is Aadhaar? India has low penetration of ATMs DCB starts Aadhaar based ATM Biometric technologies used in ATMs Aadhaar based transaction provides greater security Facility to be expanded after a month
  • DCB

    DCB Bank: A profile

    DCB Bank: A profile
    Credits:
  • DCB bank is a small-sized private sector scheduled commercial bank with 176 branches in 17 states and 2 union territories.

    Founded in 1930, the bank is headquartered in Mumbai, Maharashtra.

    Aga Khan Fund for Economic Development (AKFED) and Platinum Jubilee Investments Ltd. are the promoters of the bank.

    The bank offers products for individuals, small and medium businesses, rural enterprises, mid-corporates, etc.

  • Aadhaar

    What is Aadhaar?

    What is Aadhaar?
    Credits:
  • Aadhaar is a 12 digit identification number that serves as a universal identity proof, valid all over India.

    It is free of cost and voluntary in nature.

    It contains biometric details such as fingerprint, iris scan, face image, etc.

    Issued by the Unique Identification Authority of India (UIDAI), it is touted as the world's largest biometric programme with close to 100 crore enrollment.

  • Data

    India has low penetration of ATMs

  • According to World Bank, penetration of ATMs in India stands at 18 per 1 lakh adults compared to 55 in China and 127 in Japan.

  • 3 Apr 2016

    DCB starts Aadhaar based ATM

    DCB starts Aadhaar based ATM
    Credits:
  • DCB bank, for the first time in the country, has started an Aadhaar based ATM facility that does not require pin but asks for biometric details.

    According to the bank, a customer can transact both by swiping an ATM card or just by punching in the Aadhaar number in the ATM machine.

    For securing the identity, the fingerprint is used instead of pin number.

  • Similar in countries

    Biometric technologies used in ATMs

  • While DCB bank uses fingerprint for biometric verification, various other technologies are being used in the world for biometric authentication such as iris scan, face scan, palm scan, voice recognition, etc.

  • Advantages

    Aadhaar based transaction provides greater security

    Aadhaar based transaction provides greater security
  • Transactions through Aadhaar help do away with the need to remember multiple pin numbers associated with multiple bank accounts.

    Further, the transactions are more secure as pin numbers can be stolen which is not possible with biometric identifications such as fingerprints.

    It would be cost effective for the bank as banks would not have to issue pin and later even the ATM cards.

  • 3 Apr 2016

    Facility to be expanded after a month

    Facility to be expanded after a month
    Credits:
  • According to Murli Natrajan, Managing Director and Chief Executive of DCB, the first of its kind ATM has been installed at its corporate office in Lower Parel area in Mumbai.

    The facility will be rolled out in 400 ATM network of the bank after a month of stabilization check.

    However, initially, the facility of using Aadhaar will be available to DCB customers only.

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