Majority of ATM cash withdrawals are
through Debit Cards. The CNP (Card Not Present) alternate modes are not still popular
in India.
It is observed that majority of the
frauds at ATM happen through compromised cards\information.
The key feedback received from
customers affected through ATM fraud is that they were not present in the ATM
cabin at the time of the cash withdrawal.
To minimise such instances, HDFC Bank
with over 12,000 ATMs has decided to deploy Zumigo’s Assure Radius™ solution to
detect suspicious transactions at its ATMs.
Zumigo released the Assure Radius™
solution in India
in August, 2015 .
Since then couple of Banks and other organisations
were beta-testing the product.
HDFC Bank is the first bank in India
to announce deployment of Zumigo’s Assure
Radius™ solution at its ATMs.
HDFC Bank in association with National
Payments Corporation of India (NPCI) will roll out the pilot project at select
ATMs.
According to this technology, the Solution
will be able to map a customer’s location using that person's smartphone.
If the ATM card is being used at a location
which is at a different location from the phone, then it will raise an alert.
The major assumption that the customer’s
Smartphone and the associated Debit Card are carried by the same person.
There are no statistics available with
regard to Non-Account holders withdrawing cash with genuine ATM cards.
The bank is yet to lay down rules about the
distance between the ATM where the transaction is taking place to classify as a
Safe Transaction and the mobile phone or whether it will be available to all
debit card holders etc.
Based on customers, call-centre, branch
team feedback fine-tuning will be carried out.
An awareness campaign on the benefits of
carrying the Registered Mobile Number Smartphone and Debit card is in the
pipeline.
