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Indian microfinance institution Ujjivan to launch biometric ATMs


Ujjivan Financial Services Ltd., (Ujjivan), a leading pan-India microfinance institution, which is in process of transforming into a small finance bank (SFB), today announced that it will provide the benefits of ATMs to its unbanked and under-served customers across the country by using biometric enabled machines.
The technology powering this initiative is provided by Financial Software and Systems (FSS), which is a global Payments and Fintech leader.
This partnership with FSS is part of Ujjivan’s continuing effort to increasingly offer strategic omni-channel access to meet its differing customer needs across the country in a safe and secure manner.
FSS is providing its “Payments in a Box” solution to support Ujjivan with end-to-end payments technology infrastructure for launching its SFB. Using this FSS solution, Ujjivan bank’s ATMs will provide not only biometric access to its customers through their thumb prints linked with their Aadhaar Cards but also highest level of security by adding new features like EMV chip in lines with latest guidelines of the RBI.
Ujjivan expects an increase in ATM usage among the underprivileged with marginal education which often get intimidated by machines and technology, forget pin and often have their card locked out.
Ujjivan proposed Small Finance Bank ATMs will have a regional language option in 24 states where Ujjivan has its operations. Customers will be able to withdraw amounts as low as Rs. 100 by using these ATMs.
Ujjivan small finance bank branches will support and assist customers who are first time users, by running financial literacy, LIVE demonstration and communication program demystifying ATM machines.
The objective is to make customer comfortable with the use of their personalized Ujjivan SFB Debit card.
With the support of “Payments in a Box” infrastructure that provides integrated payment services, Ujjivan’s proposed SFB will be able to expedite its go-to-market plans of launching retail banking services and allow payments to be made across all delivery channels for its existing customer base within a short period of time.
Speaking on partnering with FSS, Mr. Samit Ghosh, Chief Executive Officer and Managing Director, Ujjivan Financial Services, said,
    “Our primary goal is to reach out to the large unbanked populace through our Small Finance Bank, and provide them with easy-to-use banking services that will help them build a better life.”
He added,
    “With this goal in mind, we have consciously chosen to align with best-in-class partners who will help us to launch and run our small finance banking operations efficiently and profitably.
    We chose FSS, because we are convinced that their understanding of the industry, their in-depth payments knowledge & expertise and the technologically advanced payments infrastructure will help us achieve our goals.”
Commenting on the partnership, Mr. Nagaraj Mylandla, Managing Director, FSS, said,
    “We are honoured to be chosen by Ujjivan, as the payments technology partner for their soon to be launched SFB.
    FSS has consciously invested in building a superior technology infrastructure,
    which is designed to allow Banks and Financial Institutions to readily establish and manage their operations at a lower cost and become profitable within a short period of time.
    I am confident that our comprehensive “Payments in a Box” infrastructure will support Ujjivan to launch and operate their SFB seamlessly and provide tailor-made retail banking products and services to their customers from day one.”

Source: FSS Technologies
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