Banking Solutions

4Gid’s Financial Inclusion Solution integrates biometric and ICT technologies to deliver mainstream banking services like savings, withdrawal, remittance, loans, insurance etc., to the marginalized sections of unbanked and under banked population in rural areas in a cost effective and secure manner.

The solution runs on handheld point of sale machines with the option of having Smart Cards, and can be integrated seamlessly with the core banking solution of Banks. 4Gid Financial Inclusion Solution is a one-stop mobile solution designed to address the issues of lack of physical and technology infrastructure, high cost of operations, secure authentication faced by the banks in rural areas and provides banking services at the customers’ door steps.

The features of 4Gid Integrated Financial Inclusion Solution are:

• Solution runs on handheld device with or without contact/contactless smart card, biometric authentication and thermal printer with GPRS module.
• Supports multiple banking products like savings, withdrawals, remittances and third party products like insurance, mutual funds and social security payments from governments
• The solution is device agnostic and is interoperable across multiple biometric technologies
• Facilitates both offline and online transactions
• Solution can seamlessly integrate with the core banking solution of the banks with two way interface
• Biometric enrollment application for customers and banking correspondents
• De-duplication system before account opening
• Configurable Smart Card Management System including card personalization, card issuance, key management and card life cycle management
• Supports multiple languages
• Server Side Intermediate Transaction Processing System that seamlessly integrates with core banking solutions and client solutions on handhelds.

Traditionally, access to ATMs has been controlled by possession of card and knowledge of specific information such as Personal Identification Number (PIN) or password. The major difficulty in this type of Authentication System has been the trade off between usability, memory and security. The major assumption here is that the ATM card will be in the possession of the rightful owner and that the information to activate it will be kept secret. However neither of these assumptions can be wholly relied upon.

Biometric ATM’s, the latest innovation from 4Gid, has the solution to all these problems. Biometric authentication ensures that a person is actually present rather than their cards and passwords without requiring the user to remember anything.

Banks can choose different authentication methods for their customers at their ATMs:

• Single factor Biometric Authentication: Fingerprint, Iris
• Multifactor Authentication: PIN combined with biometrics
• Online or offline Authentication
• Card less Authentication: Biometrics is combination of card and PIN

Centralized Biometric Authentication Solution

Today Banks and financial Institutions are looking for solutions more than ever before to protect against identity theft, fraud and other security risks. Bank customer’s and Staff of the Bank, especially Core Banking users are exposed to risk of identity theft due to the single level authentication by ID password combination. 4Gid’s Centralized Biometric Authentication solution for core banking integrates multi biometric technologies with the existing security systems to provide multifactor authentication with the highest level of security.

The features of the solution are:

• Client side Application for Biometric Capture and Authentication
• Centralized Server Solution for Storage and Multi factor Authentication
• Centralized Management Console that can integrate with different biometric devices.
• Biometric data conforms to the ISO, NIST and UIDAI standards
• Secure storage and transmission of data through PKI Encryption