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Cosmos expands ATM, payments capabilities with SmartVista

The solution consolidates disparate systems into one platform to increase speed to market for new functionalities and products, BPC says.

November 30, 2015

BPC Banking Technologies, a provider of payment solutions, and Cosmos Co-operative Bank, one of the oldest urban cooperative banks in India, have partnered to replace the FI's legacy payment platform with the SmartVista suite.

The turnkey project includes the deployment of SmartSwitch, SmartATM, SmartIssuer, SmartGuard, SmartMerchant and biometrics, as well as e-commerce solutions covering online transactions. Comos will roll out secure e-commerce in 2015 followed by a full launch of the platform in the first quarter of 2016, BPC said in a press release.

According to the company, SmartVista will enhance ATM and POS management by consolidating previous disparate systems into one solution to reduce operating costs and increase speed to market for new functionalities and products, BPC said.

Additionally, Cosmos will be able to control configuration and modification of the new processing system, which will allow the FI to develop payment products more quickly and easily — and with lower deployment costs, according to the release.

"We chose SmartVista for many reasons [including] the functionality, of course, as it is modern state of the art solution," said Cosmos Bank CIO Vasant Manwadkar. "But more important was BPC's approach and willingness to work with us in a flexible manner. This will help us realize our objectives of being in control of our own payments systems, bring down our historic total costs and ultimately enable us to give our customers what they want."