DCB Bank has launched Aadhaar-based authentication at its ATMs to enable cardless transactions. According to Murali M. Natrajan, MD and CEO of the bank, the bank decided to launch the service taking into consideration the hassles of people having to remember PINs, damage caused to cards and instances when customers failed to receive the cards in time. Aadhaar-based cards enable access to the ATM without cards or without PINs, he added. R. Venkattesh, head-HR, Technology and Operations at the bank said traditionally, ATM security has always relied on two-factor authentication that includes a card that the user has and the identification PIN that the user knows. Though banks have one of the best security mechanisms, this approach still is vulnerable to fraud from card loss, theft and skimming and the bank wanted to be innovative and helpful to the customers and Aadhaar-based ATM is an initiative in this regard.
