Rural, Branchless Banking has increasingly become the solution for rural areas in the developing world. The service is typically based on a Business Correspondent model, in which a person who works for a Micro Finance Institution serves specific villages, which he visits on a frequent basis. A range of services are provided, such as cash deposits, loans provision, loan repayment etc.

While these services have been available for a few years, the market is now trying to scale in order to maximize the opportunity and enabling more people to be part of services and thereby improve their economic situation. The main obstacle to this is the lack of scalable identity solutions that can serve various services and eventually open a huge market to new and sophisticated services that are tailor made to rural conditions.

ClassifEye has solved this problem: Our solutions are purely software based, run on mass produced handsets provided by leading handset providers (such as Nokia) and have the capability of creating and verifying identity at a very low cost per user. ClassifEye’s core technology is based on fingerprint recognition conducted by the digital camera in the phone. The package, which is an integral part of a software package that is downloaded over the air, holds a suite of solutions for rural finance, such as Business Correspondent services, mobile banking, Micro Finance services, mobile payments, etc. Moreover, in order to ensure that people can be served even when data connectivity is weak or absent, ClassifEye has developed off-line capabilities, so that services can be available even in distant locations.