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'Intelligent-powered' ATMs take banking where it's never been
December 11, 2013
India has 600,000 villages, most of them rural, and only 12 percent of them banked. Further, the country has 400,000 citizens — also mostly rural and unbanked — without access to electricity, which makes it plain to see how the government's goal of nationwide financial inclusion might be a bit problematic.
India's state-owned Bank of Baroda is addressing that issue with 2,100 "intelligent powered" ATMs especially designed for the Indian market by Diebold Inc.
According to a company news release, the Diebold 429 is the world's first ATM capable of automatically switching among three available power sources — solar panel, internal battery and electrical grid (for areas where electrical service is available, but inconsistent).
Mumbai-based BoB operates more than 4,000 branches across India and plans to deploy at least one ATM at per branch, in accord with a Ministry of Finance directive to extend self-service banking options to approximately 203 million currently unbanked households.
"Expanding the capabilities and breadth of our ATM fleet will improve access to banking services in both urban and rural areas," said P.D. Singh, general manager of transaction banking at Bank of Baroda. "Diebold's ATMs and services are helping us deliver convenient, reliable self-service banking experiences to more customers."
Built with an intelligent power management system, the Diebold 429 ATM alternates between available power sources, maximizing terminal uptime and reducing energy consumption by about 40 percent compared to older ATMs deployed in India, the company said.
"The Diebold 429 ATM is a unique solution for delivering banking services in regions with unreliable electric service," said Karthik Ganapathi, vice president and managing director for Diebold South Asia. "We're enabling Bank of Baroda to deploy ATMs across its footprint, including locations — and customers — it could not previously reach."
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Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
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