Posted on November 13, 2008 - by James

Leading Indian MFI Cashpor Adopts ClassifEye Secure Mobile Transactions Solution

New Delhi, November 10 – Classifeye, a leading developer of secure fingerprint authentication technology, announced today thatCashpor India, one of India’s leading microfinance institutions (“MFI”) has adopted ClassifEye’s innovative camera-phone-based transactions and authentication solution. This will help to facilitate broader financial inclusion, enabling Cashpor to broaden its customer base and allow their agent-serviced customers to improve their financial reach.

ClassifEye’s solution is driven by innovative imaging technology that uses camera phones to deliver secure and reliable services for MFI served customers. Customers can access a broad range of financial services that are handled by the MFI in order to manage loans, make deposits and execute other operations via field agents who are equipped with internet-enabled cellular phones. Each transaction request is authenticated via MFI agents’ camera-phones, which are used to capture an image of each customer’s fingerprints, following initial customer registration by the field agents through traditional procedures. The service has been successfully tested by leading banks and MFIs… [click here to read the rest of this article...]