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Latvian microfinance organization LAKS gives fingerprint loans through an ATM

Microfinance organizations have advantages over large banks when ensuring the availability of financial services for retail customers due to their flexible approach to providing credits.

They usually offer simplified loan processing procedures and are ready to work with clients from the high-risk segment.

The other advantage MFOs possess faster and earlier implementation of innovative IT solutions. All of these benefits combined mean that microfinance organization services are more convenient and affordable for customers.

An example of these advantages is the Latvian microfinance organization LAKS. Recently in a joint project with Diebold Nixdorf and BS/2 Latvia (5ci Riga), they implemented an innovative solution. Thanks to this solution, LAKS customers can receive loans directly at Diebold Nixdorf ATMs after being identified using fingerprint recognition.

Get a loan with just one tap.

The main objective of LAKS was to make loan issuing as simple as possible for both the borrower and the organization.

Thanks to this implementation, customers now need to visit a branch only once – to sign the loan contract and submit their biometric information. The MFO operator then registers the client in the database and adds his biometric identifier (fingerprint).

After the loan is approved, the customer can go to an ATM and take out the cash using only his finger.


The fingerprint loan solution provides LAKS and its customers with great operational benefits.

  • LAKS employers can devote more time to assisting customers
  • Using ATMs eliminates the possibility of incorrect cash validation or cash counting.
  • Using fingerprint recognition lowers the possibility of fraud because cash cannot be withdrawn using fake documents.
  • No need to carry a card or remember lengthy client numbers and verification codes
  • Make daily banking operations easier and simplify the authentication process.

Prospect for the future

Today LAKS plans to increase the number of ATMs with fingerprint readers to provide simplified-process services to a larger percentage of residents. The use of multifunctional ATMs will also allow LAKS customers to deposit cash while authenticated using fingerprint recognition.

BS/2 is one of the main suppliers of self-service channel optimization solutions for banks in Eastern Europe, Central Asia, and the Caucasus. If you are interested in innovative banking technologies, biometric solutions at ATMs, or simply looking to optimize your self-service channel operations – contact our specialists today.

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