DCB Bank has become the first domestic bank in India to provide biometric-based ATM services that won’t require people to enter their debit card PINs. The bank has installed an Aadhaar-based ATM at its corporate office in Lower Parel Area of Mumbai. It will test the new technology at its pilot ATM for more than a month after which it will start a mass roll out to cover all of its 400+ ATMs within a year.
Under this facility, the customers of DCB Bank will be able to undertake ATM transactions by using their biometric details instead of using ATM card or PINs. All that the customers have to do is to press their 12-digit Aadhaar card numbers and confirm their identity by putting their fingers on the scanner. The system is safer and more convenient than the PIN-based system as there is no chance of either forgetting PINs or compromising PIN to a fraudster. To avail the Aadhaar-based facility, a customer has to seed his bank account with his Aadhaar number. However, customers will have the option make ATM card or ATM PIN-based transactions.
DCB Bank is a new generation Indian private sector bank with more than 198 branches spread across 18 states and 2 union territories. The promoter group of the bank, Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd, has over 16.41% stake in the bank.
