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FINO

Providing biometric technologies to take microfinance to the unbanked of India

Case Study

About FINO

Mr. Manish Khera, Chief Executive Officer, FINO

Our collaboration with Ingenico has enabled us to provide world-class proven biometric technologies for financial institutions, taking doorstep banking to the underprivileged in the remotest parts of India and contributing towards making Financial Inclusion a reality."

FINO (Financial Information Network and Operations) provides technology and operational, smart card based solutions to MFIs (Micro Finance Institutions) and banks offering services to the unbanked located in India.

Challenge

Provide MFIs (Micro Finance Institutions) and banks with a secure, biometric authentication process.

Solution

FINO joined forces with Ingenico to roll out 18,000 wireless biometric BIO930, mostly GPRS terminals and set up industrial-scale, biometric processes to reduce operational, distribution and transaction costs.

This allows banks and MFIs to reach out to the under-banked and provide them with a range of customised financial services.

The BIO930 secures the entire biometric process from fingerprint capture to fast and secure match-on-card analysis.

It allows biometric templates to be stored in the terminal, and used to customise a user’s smart or swipe card.

It supports a wide range of payment and micro applications, is easy to integrate and delivers value-added services.

Fully EMV and PCI PED approved, the BIO930 ensures secure data and application management.

Benefits

The solution rolled out by Ingenico is efficient and cost-effective, catering for the Common Man in all areas of the country, even the most remote.

It ensures that all kinds of financial institutions, even the smallest, can carry out inclusive banking.

The solution ultimately facilitates access to micro banking and helps to lessen the restrictions of poverty. 

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