As the technology keeps on changing banks are showing more interest towards adopting newer technologies.Earlier we have seen ICICI bank and Axis bank have adopted Block chain technologies,which stands as the proof of all transactions on the network
Now it is the turn for another Private sector entity DCB bank.The bank has adopted a new technology called Iris Scan for Aadhar Authentication.The bank ran pilot services at around 10 branches in rural and semi urban areas over the past 3 weeks,processing about 200 accounts including opening 100 fresh accounts.
DCB bank is implementing this procedure to simplify KYC process.For this purpose,Any customer who is willing to open in DCB bank will have to share his Aadhar number and his Iris.Bank representative points the camera directly to the customer's Iris for 3 to 5 seconds and Aadhar details are retrieved from the Data base.
