DCB bank has introduced eye scanning technology to open new accounts. This novel biometric authentication does away with submission and verification of KYC documents, and sets a new benchmark in digital identification.
How does DCB IRIS Scan works?
The process is simple. To open an account, a customer only has to share their Aadhaar number, and using an iris scan-enabled phablet the bank will scan their iris.
The bank representative will point the camera directly at the person’s eyes for about three to five seconds, and the Aadhaar details are retrieved from the Aadhaar database. Immediately they can see if the photograph matches with the customer, and address etc, which means that eKYC is done on the spot.
The bank ran a pilot programme at around 10 branches in rural or semi-urban branches over the past three weeks, processing about 200 accounts, including opening 100 fresh accounts.