N@N

NORWALK, Conn.--([ BUSINESS WIRE ])--India and other developing markets face an increasing demand for the most basic of [ banking services ]. But with Indiaas 1.2 billion multi-lingual population spread over 1.2 billion square miles, servicing their banking needs comes with challenges.

"The solution is so simple and effective we see it also being used in some of the most remote corners of the world."

[ Researchers ] at [ Xerox ] (NYSE: XRX) have invented a banking solution that reduces the cost of establishing branches a" even in rural areas a" and automates much needed personal banking services, like opening a bank account or applying for a loan, making it simple for consumers in India and other developing countries to manage their money.

aThis innovative approach puts the power of technology into the hands of customers by eliminating paperwork, lines and inconvenience,a said Nischal Piratla, senior entrepreneur in residence at [ Xerox Research Centre India ] (XRCI). aThe solution is so simple and effective we see it also being used in some of the most remote corners of the world.a

Xerox innovation automates basic banking tasks by connecting a bankas standardized back-office operations with its customer-facing operations a" making it economically feasible for banks to set up rural branches.

How It Works

Developed through ethnographers surveying the issues around getting financial services to rural areas, Xerox plans to pilot the technology in kiosks with one of Indiaas leading banks. These are easy to replicate, install and secure in both remote and densely populated areas. The solution builds upon the capability of Xerox multifunction devices to not only scan hand written forms, but to also interact with the resulting content. This eliminates the need for fully staffed bank branches, reduces paper-based processes and provides clients with a user-friendly experience. A prospective bank client walks up to the kiosk and inputs key information that can accommodate several languages. The system automatically verifies and validates the information, and populates back-end databases with the correct information.

Innovations from Xerox built into the banking solution include:

• Automatic validation of completeness and correctness of handwritten paper forms
• Language conversion of forms without the need for translation
• Secure technology to overcome slow, error-prone data transmission over satellite networks commonly used in rural areas.

About Xerox

With sales approaching $23 billion, [ Xerox ] (NYSE: XRX) is the worldas leading enterprise for [ business process ] and [ document management ]. Its technology, expertise and [ services ] enable workplaces a" from small businesses to large global enterprises a" to simplify the way work gets done so they operate more effectively and focus more on what matters most: their [ real business ]. Headquartered in Norwalk, Conn., Xerox offers [ business process outsourcing ] and [ IT outsourcing services ], including data processing, [ healthcare solutions ], [ HR benefits management ], [ finance support ], [ transportation solutions ], and [ customer relationship management services ] for commercial and government organizations worldwide. The company also provides extensive leading-edge [ document technology ], services, [ software ] and [ genuine Xerox supplies ] for [ graphic communication ] and [ office printing environments ] of any size. The 140,000 people of Xerox serve clients in more than 160 countries. For more information, visit [ http://www.xerox.com ], [ http://news.xerox.com ] or [ http://www.realbusiness.com ]. For investor information, visit [ http://www.xerox.com/investor ].

Note: To receive RSS news feeds, visit [ http://news.xerox.com/pr/xerox/rss.aspx ]. For open commentary, industry perspectives and views visit [ http://twitter.com/xeroxcorp ], [ http://realbusinessatxerox.blogs.xerox.com ], [ http://www.facebook.com/XeroxCorp ], [ http://www.youtube.com/XeroxCorp ].

XEROX, XEROX and Design are trademarks of Xerox in the United States and/or other countries.