Jun 202016

DCB Bank Launches Aadhaar & Fingerprint Based ATM 

DCB Bank has launched a very interesting project and that will ease the work process of dispensing cash from ATM booths. The bank has introduced a new system in Bangalore by which the customers will be able to withdraw cash from ATM machine by using his Aadhaar Number or his Aadhaar fingerprint (Biometric). The customers will not need to carry their ATM cards for the dispensation of their money. They will also get rid of the process of memorizing their pin number correctly.

DCB Bank Launches Aadhaar & Fingerprint Based ATM

This is not the first time DCB Bank has taken such a step. Earlier in April, they launched a similar project in Mumbai when they launched India’s first ever ATM that recognizes Aadhaar Number and Aadhaar Fingerprint in Mumbai. When they launched it for the very first time, there were questions raised against the process. But the bank was successful in their very first attempt and then they decided to go for it in Bangalore.

The foundation of this exciting project was laid by the Chairman of UIDAI (Unique Identification Authority of India).  Everybody has high hopes for the 2nd project to be even more successful. Although, the facility will be enjoyed by the DCB bank customers currently, it will be open for all very soon.

The Chairman of the DCB Bank mentioned that Bangalore is an important centre to them and these projects were to support their cause of promoting a new way of banking. He also said that these ATMs were indeed a proof of their promise of investment in customer facing technology.

DCB bank has a full proof plan of increasing the number of ATMs all across the country. They have more than 400 ATM machines and they will upgrade them all for providing the new Aadhaar based facility. DCB Bank has a plan to achieve this target within the end of the year 2016. Across 18 states of the country, DCB Bank has 201 branches. They also have 2 UTs in the country.

Opinions and thoughts of Different Organizations about this new project

Below there is a table to showcase the current opinions and thoughts of different organizations about the newly launched Aadhaar based ATM machines.

Organizations Opinion
DCB Bank DCB Bank has always stated that this project will be a new way of banking and they are still supporting this project and hoping this project to be spread all across the country.
Other Private and PSU Banks None of the banks have made an official statement about this project. But it is most likely that most of the banks will have this project in their pipeline. The fact that they are considering this project can be said from the context that the banks are approaching their customers to use Aadhaar Card as their Know-Your-Customer document.
The Government The Government has not made it compulsory for the citizens to connect their Aadhaar card with their bank accounts but still several DBT schemes of the government is making sure the citizens do it on their own.
General People The best thing about this project is that crores of citizens have acknowledged the project by linking their Aadhaar card with their bank accounts for direct profit transfers. Also most of the people have appreciated this project and they are looking forward to it.

Benefits of Aadhaar based ATM Machines 

  • Aadhaar based ATM Machines will reduce the potential problems of the bank.
  • These ATM Machines will attract more customers and it will definitely increase the number of customers.
  • The customers will not need to bring their Debit Cards along with them while they are withdrawing money from the ATM Machines.
  • The customers often lose their ATM cards which leads to harassment faced by the customers and also by the banks. This process will not require ATM cards and it’ll solve the problems of both parties.
  • The customers will not be obliged to remember their ATM Pin. Thus, they will not need to re-issue their card from the bank which is required if they forget their Pin. 

This new project launched by DBC Bank has a lot of benefits and it is hoped by all that this project will be successful. Although no banks have still made an announcement of supporting this project, it is thought that the modern payment banks like Paytm will surely support this project sooner than the other banks.

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