News

Indian banks eyeing iris recognition for ATMs

July 22, 2016

Three of India's largest banks — DCB, Axis and Kotak Mahindra — are considering iris-recognition authentication for ATM transactions as an alternative to fingerprint ID, the Times of India recently reported.

Iris recognition offers advantage over fingerprint authentication, which can be foiled by injuries such as swelling, contusions and cuts, which can be an issue with farmers and laborers, the article said.

"Even for the salaried class, it's quite possible for our fingers to be coated with a film of grease or dust," said Rajiv Anand, executive director and head of retail banking at Axis Bank. "So iris-recognition is something we are looking at adopting as it's safe, non-invasive and foolproof."

The Times said that DCB bank is currently using fingerprint recognition and plans to equip all of its ATMs across the country with the technology. However, the bank does not see fingerprint as the be-all-to-end-all solution for authentication.

"We are keen on biometric authentication and iris-recognition is the next logical step," DCB Bank managing director Murali Natrajan told the times.

Kotak Mahindra is beta-testing new products and services, including iris-recognition. Chief digital officer Deepak Sharma told the Times of India that the bank is looking at Bluetooth-connected biometric devices, but will only adopt a solution that delivers satisfactory real-world results at least 80 percent of the time.

"The robustness and safety of the solution is our priority," Sharma said.