Fintech companies as accelerators of financial inclusion in India

[Aeishna R]

The fact that 20% of Indians do not have bank accounts suggests significant unrealised economic potential. By utilising the current financial ecosystem and cutting-edge technologies to make banking more straightforward, more accessible, and more affordable for millions of unbanked and underbanked Indians, fintech companies may significantly promote financial inclusion.

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[Antony Vendhan]

We started Touchless ID to improve inclusion. 90% of the Indian population have a foundational ID (Aadhaar) in India. Identity issuance alone does not solve the problem. Identity must be usable when and where it is needed. Biometrics is the best way to ensure user identity. Touchless ID allows the citizens to take a picture of all their 10 fingers using a smartphone camera and securely submit these fingerprints to AADHAAR for verification. It is simple, safe, secure and of course meets all the full KYC requirements of RBI. It improves inclusion because we can submit all the 10 fingerprints for verification in stead of just one finger at a time. (https://identy.io/demo_tz1).
We need UIDAI to accept our software technology and we are stuck. Banks, Telcos, Insurance companies and Govt agencies in LATAM and Africa use our product. Would love to demo the product if anyone interested.
Thanks
Antony

[Author]

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