Banks, financial entities and insurance companies are progressively moving towards taking services closer to their customers. Customer registration right from the field, doorstep banking and biometric-based authentication systems are examples of outreach initiatives that these financial institutions have begun to employ to expand services to the doorstep of the customer and improve the level of customer convenience and service.
Increasingly, customers are expecting, nay demanding, that their transactions get fulfilled at their locations and not at distant places. Financial institutions are also becoming aware of the immense opportunities that such customer-convenient transaction fulfilment processes open up for them. Obviously, engagement with a remote customer is carried out by a field agent/business correspondent carrying a handheld terminal.
eKYC (Electronic Know Your Customer) is an important and integral part of the financial inclusion program. Financial institutions are interested in on-boarding new customers by capturing their key attributes and essential documents through field-level systems having intuitive interfaces. Once a customer is on-boarded into the financial system through the eKYC setup, the next stage is transaction fulfilment.
AADHAAR Enabled Payment System (AEPS) is a bank-led model catering to financial inclusion transactions through business correspondents carrying Micro-ATMs of the concerned bank. AEPS leverages online Aadhaar authentication and allows Aadhaar-enabled bank accounts to operate in anytime-anywhere banking mode through Micro-ATMs.
MAXIMUS AASAAN is a flexible and secure solution catering to financial institutions that are aiming to usher doorstep banking and/or penetrate the rural markets in line with the national policy on financial inclusion. AASAAN conforms to AEPS standards and is compliant with RBI, NPCI and UIDAI requirements. It meets PCI-DSS requirements and adopts 3DES encryption.
The MAXIMUS Micro-ATM solution enables a financial institution to on-board a customer into the CBS by capturing KYC details right at the doorstep of the customer using a portable, field device. The solution includes the functionality of uploading customer data from the field through a variety of hand-held/portable devices. Once the customer data is uploaded to the financial institution’s backend system (CBS), the solution takes care of biometric (fingerprint) authentication of the customer for transaction purposes. The entire communication flow between the field systems and CBS is highly secure and takes place through a middleware that is part of AASAAN.
The MAXIMUS middleware is installed at the data centre of the financial institution or service provider and is connected to the CBS system through a host interface. The field device is connected to the MAXIMUS middleware through GPRS connectivity. Hence, GSM SIM card is required inside the device. Device security is ensured by having a security key for each HHT. This way, only the authorized agent of the financial institution is allowed to carry out field transactions.
AASAAN supports cash withdrawal, cash deposit, fund transfer, balance enquiry and mini statement. Loan collection can be handled under the cash deposit function.Application Features