The Unique Identification Authority of India (UIDAI) is a central government agency that collects the biometric and demographic data of residents, store them in a centralised database, and issue a 12-digit unique identity number called Aadhaar to each resident.
Traditionally, ATM security has always relied on two-factor authentication that includes a card that the user has and the identification PIN that the user knows. But the bank’s representatives have noticed that on several occasions customers either forgot to carry their cards or they did not remember their identification numbers or had damaged cards.
Furthermore, many of them failed to receive their cards or PIN details due to the locations that they were in. All this led to customer inconvenience. As a result, the bank decided to use the Aadhaar card for users to access the ATM to make transactions cardless and PIN less.
DCB Bank is working on an e-KYC and is also looking to innovate in multiple areas, specifically around digital. It has already Aadhaar numbers of its majority of customers mapped with their respective account numbers and had recently deployed e-KYC application to facilitate KYC electronically.
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