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Axis Bank launches iris authentication for Aadhaar-based transactions

Mumbai: Axis Bank has become the first bank in the country to introduce Iris Scan Authentication feature for Aadhaar-based transactions.

This service, which requires a customer to scan their iris on a tablet, will boost the bank's financial inclusion efforts by making Aadhaar authentication process hassle-free and offering easier access to digital banking for consumers especially in the rural parts of the country.

Micro ATMs completely eliminate the requirement of debit cards, passwords, PINs, and user IDs, and empower consumers to avail banking services using only their Aadhaar numbers and biometrics (iris scan/fingerprint scan). The bank has deployed highly secure iris powered micro ATM tablets which are STQC certified and UIDAI compliant registered devices with completely integrated iris sensors.

Iris scan technology is completely contactless and provides up to 98.2 per cent authentication success rate (as per a study conducted by the International Centre for Biometric Research) and offers an edge over other prevalent biometric modes.
"We are delighted to introduce the iris authentication feature for Aadhaar-based transactions.

We have built this feature in a way that improves transaction experience over micro ATMs by making Aadhaar authentication process hassle-free and simple for our customers, especially senior citizens and those from far-flung rural regions who often face rejections while using other biometric modes.

We feel that the iris scan technology has profound potential in authentication space in the future, as India continues its push to become a less-cash society," said Rajiv Anand, Executive Director - Retail Banking, Axis Bank.

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