TCBIL wins contract for deploying 14,000 ATMs for PSU banks

Tata Communications' payment solutions providing arm Tata Communications Banking InfraSolutions (TCBIL) has won a contract to deploy and manage some 14,000 ATMs for all public sector banks in Tamil Nadu, West Bengal, Andhra Pradesh and the union territories of Puducherry, and Andaman & Nicobar islands.

As per the agreement, TCBIL will install and manage close to 14,000 ATMs over a period of two years for all the 21 public sector banks operating in the three regions. While one half of all the ATMs will be deployed in metro and urban markets, the other half would be installed in semi-urban and rural locations so as to service the needs of the rural customers.

Commenting on the win, Sudip Kumar, President, TCBIL said, "This is a huge endorsement of our competence in the banking infrasolutions space as we commenced operations only three years ago. TCBIL will function as a one-stop solution to the banks for the entire value chain - from identifying locations to implementing the ATM as per their bespoke brand guidelines.”

With this win, TCBIL has become India's largest managed ATM services provider, with almost 27,000 contracted ATMs nationwide.

The order for 14,000 new ATMs forms a part of the government's agenda to grow the ATM networks of public sector banks so that they can extend banking services to the underbanked masses residing in the remote corners of the country. Also, the government believes that by jointly contracting vendors such as TCBIL under a managed ATM services model, PSU banks will not only be able to lower the costs of managing ATM networks but also cover vast geographies much more efficiently.