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Sagem has been selected by The Reserve Bank of Malawi to install a fingerprint recognition system that secures card and e-purse issuance throughout the country. As a world leader in fingerprint recognition, Sagem has broken new ground with the design of an AFIS (automated fingerprint identification system) for banking applications. This new biometric solution secures banking titles and rights by verifying the applicant's identity (ie he/she is who he/she claims to be) and uniqueness (ie the individual is not known under another name).
The identity certification service enhances an installed computer system composed of an inter-banking clearing switch and a virtual private network, as well as national POS and cashpoints infrastructure.
Some 400,000 biometric cards have already been issued in Malawi for uses such as clearing funds, salary payment and day-to-day expenses.
The advantages of the system are numerous for a developing country with a newly developed banking network.
They include: reducing the excess of fiduciary money in circulation, as well as the cost and risk of transporting funds; boosting and securing electronic fund transfers and clearing; ensuring payment to the right person and preventing identity theft and subsequent fraud; and developing banking services, encouraging individual saving, facilitating monthly expenditures etc.
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