Biometric Enabled Multi- Application Smart Cards
All customers touched by FINO are provided with a smart-card, which carries their fingerprint, demographic information and financial relationship information on the chip; while the fascia holds the demographic information and cardholder’s photograph along with Card Issuer’s details. FINO cards, thus, offers itself as a fool-proof unique identity tool, allowing the customer to authenticate self on an offline hand-held device for fulfillment of any transaction without any need to remember a password (PIN). The card can maintain up to 8 relationships with financial (Banks, MFIs, etc) or non-financial (PDS, etc) institutions along with their individual transaction history of up to last 10 transactions. Further, FINO's robust fingerprint validation engine ensures that a customer exists in the system once and once only.
The service agents of the principals of the financial/ non-financial institutions under the FINO umbrella are also given a smart-card with similar details, which forces them to authenticate themselves with their fingerprints as well. This ensures a secure offline transaction authenticated by the customer and principal’s representative.
While, the smart-card is an important tool to maintain the sanctity of the offline transaction, it does not mean that all transactions must be offline on FINO platform i.e. based on the nature of transaction, it can be designed to go online.
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