TMFB launches fingerprint identifying ATMs in Pakistan

Originally published: Friday, April 14, 2006
Source: The Daily Times, Pakistan

KARACHI: Tameer Micro Finance Bank (TMFB), supported by the Swiss Agency for Development and Cooperation (SDC), has launched Automated Transaction Machines (ATMs) with the option of accessing accounts by using fingerprints as identification of customers.

According to a press release issued on Thursday, the TMFB, with support of the SDC, has launched the facility for the first time in the country via its Financial Sector Strengthening Programme, and with technology companies Aerocar and TPS – ATM Switch Provider has launched, for the first time in Pakistan, a multi-lingual ATM facility that will allow its customers the option of accessing their accounts by using their fingerprints via biometric registration and authentication technology.

With launch of the facility, Tameer Bank’s customers will be able to avail of this alternative delivery channel, currently not seen in the micro-finance world with a higher security compared with PIN identification, due to the facts that passwords and PINS can easily be compromised, and is hassle free.

Tameer Micro finance Bank Limited, a countrywide micro-finance bank, incorporated in September 2005 under the MFI Ordinance 2001, commenced its formal banking operations from Karachi in December 2005.

The TMFB, since its inception, has aimed to be a pioneer and trendsetter in terms of deploying innovative, economical and user-friendly technologies in order to provide easy access of financial services to its customer base across the country.

It has taken a step forward in this direction by installing Pakistan’s first biometric ATMs at its branches situated in Orangi Town and SITE. It is noteworthy that the TMFB has introduced biometric-enabled ATMs in an entirely un-banked customer base, such as small shopkeepers, cottage industry and small entrepreneurs, especially women.

This is a milestone towards introduction of financial services awareness and literacy in the unbanked areas and bringing potential customers into mainstream financial world.

Response has been very encouraging and Tameer Micro Finance Bank’s customers have signed up to use these machines, and the Bank expects the figure to grow as it sets up its network of branches across the country.