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Iris scanners are ideal for Aadhaar authentication

IRIS scanners can help consumers and banks go card less and paperless, says   Tamaal Roy, CEO, Biomatiques Identification Solutions Pvt. Ltd
January 3 2017: Aadhaar was designed to make life convenient for the average person. Aadhaar, being a digital identity, allows the government to verify authenticated users online. The infrastructure built by the government in the past seven years has now become a tool to create digital financial economy quickly. It has helped the government verify nearly 14 million of authentications a day. Apart from verifying authentications, Aadhaar also allows us to know the name and address of the user, which will act as eKYC (know your customer). It is sufficient for opening bank accounts, buying mutual funds, insurance policies and even SIM cards.
The Banking industry conducts business via electronic documentation. Banks have to manage customer information, financial information and product through electronic documents.        The sensitive nature of the information demands the highest level of security to prevent unauthorized access.       A security breach at banks can result in severe loss of business and reputation. With Iris technology one can ensure secure and authorized access to critical information from the electronic documents. With the government deciding to go cashless and paperless with the 'Digital India' campaign banks and other payment merchant have been contributing efficiently to further accelerate the growth of a digital economy in India.
In India, nearly 70 per cent population is into labour, agriculture and other manual activities. Fingerprints of farmers and manual laborers tend to get worn out over a period of time. In such conditions Finger print proves to be a weak form of biometric. Iris on the other hand is the best authentication process available today. While many mistake it for retinal scanning, iris recognition simply involves taking a picture of the iris; this picture is used solely for authentication. Iris recognition method analyzes more than 200 points of the Iris, including furrows, rings, corona, freckles and other structures. After recording data of individuals, the system saves information in a database to compare it when a user seeks access. Iris recognition technology is one of the most accurate security systems to identify a unique user, promptly and conveniently. Practically there cannot be two humans who have the same iris pattern what so ever. The accuracy rate of the software is such that the chance of error in iris recognition technology is 1:1.5 million.
Now when Aadhaar is linked with Iris, the first formal step is to eliminate the traditional process of creating multiple paper works by using the E-KYC process. Banks and other institutions can now verify the details of an individual using E-KYC,  resulting in no documentation for account opening, investment, new phone connections, LPG connections etc. Since there is no documentation the process also drastically reduces the risk of security breach that has the potential of causing severe damages. The new revolution should comprise eKYC/IRIS using Aadhar and integrate with other digital initiatives like Digi lockers, e-signature etc. The highlights and advantages of Iris Technology include

  • Uniqueness. The possibility of two individuals having same identification features is virtually zero
  • Highly secure process of identifying users makes it less prone for users to share confidential information
  • Iris details of users cannot be faked, duplicated, lost or stolen
  • The process of verifying users is completely cost effective

This will also help the bank and other financial institution to save on the expense involved in opening a single account which is approximately 1400 per account. The use of Iris technology in banking is increasing because more consumers understand its potential as a predominant method of identifying themselves to access banking services such as branch banking, online banking, ATM networks, and mobile banking. The government being a critical cash dispenser at various levels to people, such as for payment of wages, subsidies, benefits etc. Hence to ensure that wages/pension reach the genuine receiver it is a must to add Aadhaar/Iris to the E-KYC.
The latest iris scanner can also be useful in our day to day lives as well. It can be fixed outside our door and used for key less entry. It can double as additional security for mobiles and personal computers and even apps, email clients and social networking websites. Iris Recognition Technology eradicates manual validation and proxies, encourages punctuality and efficiency in schools and organizations where capturing attendance is mandatory. It can be further used for forensic & criminal investigation, for security checks at airports and border security and also be useful at data centers, labs, hospitals and utility centers.
The functioning environment of banks should enhances the functional capabilities of payments in such a way that banks will boost their efforts to take digital banking to the last mile which will lead to a stage where non-cash transactions will outnumber cash ones. Indeed, it will need continuous technological improvement and disruptive applications for all of it to come together. 

Tamaal Roy is  CEO of Biomatiques Identification Solutions Pvt. Ltd. with an engineering degree in Textile Technology. His major contributions include innovative software’s like ‘Master Drape’, ‘Master Weave’, ‘Jacquard Pro’ and ‘Tex Cad’ for the textile industries and ‘Jewel Pro’ for the jewellery and diamond industries. He then forayed into the national market through his software called “PEHCHAN PRO” for  Face portrait building, which remains the only Identity kit Software Certified by Bureau of Police Research and Development and the  Central Bureau of Investigation (CBI). It is used all over the country by the police department to prepare sketches of the accused criminals on witness accounts.In 2012,  Roy started Biomatiques Identification Solutions with the motive to manufacture the  first indigenous iris scannere . It is  the first Indian company to step into this market.