Information Madness

ICICI Launches BioMetric Cards In Andhra Pradhes

Hiren Pathak

ICICI keep doing new experiments and implement innovative strategies in their day to day business. Just few weeks ago, Pihu wrote about how ICICI Bank is letting its employees play games as part of their training when they initially join the bank.

Now ICICI Prudential Life Insurance company has launched biometric smart cards for their rural policyholders so that they can pay their premiums. These cards basically contains details (name, age, address and fingerprints) of a policyholders. The card will also help process the claim and will be used to authorise the transaction based on the policyholder's fingerprints.

The company has tied up with FINO Fintech Foundation for Operational and Processing capabilities and Financial information network operations (FINO). SO basically, policyholders can use their biometric cards to avail the service at various FINO Fintech access points across the country. Currently they are planning to have around 70 FINO points in the Andhra Pradesh. The pilot project is launched in Andhra Pradesh where 100 policyholders will be given this cards.

more: Business Standard

Written By: Hiren Pathak. You can contact him at informationmadness AT gmail DOT COM
Our valuable member Hiren Pathak has been with us since Tuesday, 12 December 2006.

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Comments (2)

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Jk
2011-01-29 18:15:10
These are really good initiatives. It will make business processes so faster. and ultimately improve the efficiency of the organization

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Abhishek Sinha
2007-11-06 11:29:10
Eko India Financial Services Private Limited (www.eko.co.in) - startup company based in Delhi, India is looking to extend banking facilities in these untapped/un-banked areas through the use of mobile phone as a channel (currently there are over 200 million mobile phone subscribers (GSM & CDMA). Eko is looking to ensure greater financial inclusion and increase the outreach of the banking sector as envisaged by RBI – the Indian Federal Bank through the use of Business Correspondent Model.

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