Grupo Monge’s Deployment of Biometrics for Customer Identification in the Micro Credit Loan System

Grupo Monge is a Costa Rican capital corporation who chose to deploy CertisID™ for financial service customer identification technology with fingerprint biometrics to secure their micro credit loan system. This microcredit program was launched to offer loans and lend money to the undeserved, facilitating socio-economic development, encouraging savings, and fighting loan shark corruption in Costa Rica. Implementing biometrics for customer identification in the micro credit loan process helped Grupo Monge to maintain integrity and faith that customers are not exploiting the loan process by assuming the identity of another individual. Since implementing CertisID™, Grupo Monge has enrolled over half a million micro credit loan customers and seen over a 10% reduction in customer fraud and nonrecoverable cases.