- Aadhar world’s best digital identity infrastructure: Former DG
- Virtual network operators, Aadhaar will create robust digital platform: Ravi Shankar Prasad
The five pillars of Prasad’s Digital delivery platform will thus be: a network of postal offices (125,000) with core banking facilities; a optic fibre network; Common Service Centers CSCs (currently 83,000 to go up to 157,000); rural BPOs where government will provide a subsidy of R1 lakh per seat; and VNOs (Virtual Network Providers). The platform thus created by the synergy of these five will be facilitated by Aadhar.
A customer can create a unique financial address in his/her bank linked with the bank account number at the backend. The customer will use only the virtual address while dealing with others without sharing the account details. For instance, a customer at State Bank of India (SBI) can create an address like shortname@ sbiormobilenumber@sbi.
… UPI will enable single-click two-factor authentication with mobile itself as the first-factor using the unique hardware identification of the smartphone, and OTP/static mobile PIN as the second. Banks will compete with each other to provide simple and user-friendly solutions without compromising on the regulatory guidelines on two-factor authentication. A few banks are enhancing the security without compromising simplicity.