Sunday, August 20, 2006

Low-cost ATMs for rural India : IIT Chennai invention

According to this news:
Grammteller, unlike other ATMs is meant to be a cash dispenser, which plugs into a kiosk PC, which acts as a tunnel between the dispenser and the bank server thus bypassing use of the 'switch' used by ATMs. The 'financial transaction switch' is an enterprise server that connects the ATM to information from various sources, which then dispenses with the switch, thus reducing the cost of the machine to about Rs. 50, 000. The server is encrypted and runs on a proprietary format developed at IIT-M.

Unlike the PIN numbers log-in access facility, Grammteller is equipped with biometric sensor so that once the customer's fingerprints are registered, PINs need not be used.

Aimed at the rural market, the low-cost ATM makes it more user-friendly for people in rural India who are more into 'finger impression' mindset for taking cash. The thumb-impressions are being registered at the TeNet Lab at IIT-M and are stored and authenticated by ICICI servers in Mumbai.

1 comment:

Zaki said...

Appreciating guys! Any body who can help me do design a battery powered
Bike with one rear in wheel motor and powered by 24V DC 150 AH or 3.6 KW/H
Enough to run a bike at 60Kms for 3 hours with total weight 320 Kgs.
Smzaki77@gmail.com