Amsterdam, Dec 14, 2011–Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, today announces that ten million Financial Inclusion Network & Operations (FINO) customers in India now enjoy the benefits of micro-banking, using Gemalto smart cards, as part of FINO’s broader branchless banking program. FINO is a business and banking technology platform combined with extensive services delivery channel. It has achieved breakthrough in scale and access to affordable financial services to the unserved and underserved masses, totaling 42 million customers in India. More than half of India’s adults today are still not served or under-served by the finance sector1, creating an immense need for financial services to be made accessible to India’s 1.2 billion population.

FINO’s transactions are validated using biometric authentication, providing one of the highest degrees of digital security available. End-user card transaction is approved after fingerprint information is verified through the payment terminal reading and the card embedded software processing at business correspondents of FINO, called “Bandhus”. Bandhus are FINO’s business correspondents who move around by bicycle or motorbike to provide door step delivery of services, carrying a portable smartcard reader to help villagers with their everyday transactions. This is just one way customers can bank with FINO, which also provides services through retail outlets and partners’ premises. With 22,000 transaction points across India, FINO has the most active customer base in the world, and also records the highest transaction volume according to a 2010 study from the Consultative Group to Assist the Poor. Each FINO card can securely store up to 15 types of applications that facilitate daily life financial services such as deposit remittances, savings, loans, insurance and e-purses.

“FINO’s goal is to make financial services available to everyone in the country, especially in rural areas. Gemalto’s ‘one-card-does-all’ solution is one of our key enablers to deliver this vision,” said Manish Khera, Chief Executive Officer, FINO. “Since the card introduction in 2007, our customers have complimented its convenience and added value to their daily lives. With more than half of India’s population unbanked, we are rapidly expanding our geographical coverage and extra services offered.”

“Providing these services in India is another example of the clear benefits to society that characterize Gemalto’s solutions,” added Tan Teck Lee, President Asia, Gemalto. “FINO’s solution has also already enabled the implementation of various social and Government schemes, and Gemalto is committed to supporting them and growing this new business potential.”

(1) 55% of India’s adults are not served or under served by the finance sector, source: “The Socio-Economic Impact of Mobile Financial Services, Analysis of Pakistan, Bangladesh, India, Serbia and Malaysia” The Boston Consulting Group (April 2011)

About Gemalto

Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with 2010 annual revenues of €1.9 billion and over 10,000 employees operating out of 87 offices and 13 Research & Development centers in 45 countries.

Gemalto is at the heart of our evolving digital society. Billions of people worldwide increasingly want the freedom to communicate, travel, shop, bank, entertain, and work–anytime, anywhere, in ways that are convenient, enjoyable and secure. Gemalto delivers on the growing demands for personal mobile services, identity protection, payment security, authenticated online services, cloud computing access, modern transportation, e-healthcare and e-government services. Gemalto does this by providing secure software, a wide range of secure personal devices, and managed services to wireless operators, banks, enterprises and government agencies.

Gemalto is the world leader for electronic passports and identity cards, two-factor authentication devices for online protection, smart credit/debit and contactless payment cards, as well as subscriber identification modules (SIM) and universal integrated circuit cards (UICC) in mobile phones. Also, in the emerging machine-to-machine applications Gemalto is a leading supplier of wireless modules and machine identification modules (MIM). To operate these solutions and remotely manage the software and confidential data contained in the secure devices Gemalto also provides server platforms, consulting, training, and managed services to help its customers achieve their goals.

As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the Company is poised to thrive over the coming years.

For more information visit http://www.gemalto.com, http://www.justaskgemalto.com, http://blog.gemalto.com, or follow @gemalto on Twitter.

Gemalto Media Contacts

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