India’s cash management services company CMS Info Systems has won a contract from State Bank of India (SBI) to deploy more than 7,850 automated teller machines (ATMs) across the country.
The contract represents the single largest deployment contract awarded by any bank in the country, valued at over 4.5 billion rupees (INR), and will include total implementation services, ATM installation, maintenance and support for a seven year period.
CMS Info Systems will be installing ATMs manufactured by Nautilus Hyosung of Korea, a leading provider of banking automation and self service solutions worldwide.
“We are honoured to be to be awarded this project by SBI,” said Rajiv Kaul, executive vice chairman and chief executive officer (CEO) of CMS Info Systems.
“In executing what is possibly the single largest ATM deployment in the world, we shall leverage our deeply entrenched cash management network over more than 2500 towns and experience in project management, to significantly improve access, uptime, and quality of service for the bank’s customers.”
The ATM network will be deployed across all regions in India with a significant focus on semi urban and rural areas. This is expected to provide the necessary infrastructure for multiple financial inclusion initiatives, including the direct beneficiary transfer scheme.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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