Finextra16 April 2009
ElectraCard Services, India's leading electronic payment solutions provider, has launched electraSwitch for Foreign Trade Bank (FTB), Cambodia.
The Switch will drive biometric ATMs in Cambodia, the first of its kind in the country.
The bank has deployed ATMs with fingerprint recognition technology, voice instruction and simple screen graphics to help customers get the most out of a new way of banking. The system also saves them the trouble of remembering their ATM PIN as they can use their fingerprint to withdraw money through ATMs.
Elaborating on the security concerns electraSWITCH addresses, Mr. Gui Anvanith, General Manager and Board Member of Foreign Trade Bank said, "A large number of our customers are still not technology savvy enough to use ATM machines themselves. Handing over their own cards and sharing their PIN numbers with a friend or a relative to withdraw cash from ATMs are commonly found cases. The electraSWITCH with biometric technology will make ATM usage more user-friendly and convenient for FTB customers, thus averting ATM fraud risks to a large extent."
"Biometric ATMs are the way of the future and ElectraCard Services' deep domain knowledge, superior software technology and professional implementation methodology of this solution has provided FTB Bank with an exceptional solution which is in line with their objectives of operational excellence, cost reduction, and profitable growth." said Ramesh Mengawade, CEO, ElectraCard Services.
FTB has also tied up with ElectraCard Services for other solutions including Credit cards and Prepaid cards that will be deployed soon to serve their customers in Cambodia.
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