SBI to benefit from multi-vendor ATM software

State Bank of India (SBI), India's largest Public sector bank, has moved its entire ATM network to a Multi-vendor Software (MVS) solution implemented by CMS Info Systems (CMS), India's leading Payment Solutions Company. This is a 7-year contract worth over ?500 crore for CMS.

" The unique solution was customized for SBI and is now running successfully on the 40,000 ATM network.

" The multi-vendor Software (MVS) solution is helping the bank centralize their ATM Channel Management to a single central command control which can be used to enhance the customer experience as well as ensure the network has the latest security measures.

" SBI, with a wide-spread ATM network running hardware from various OEMs, is now able to leverage

VMS to update its network in real-time which could earlier take months.

" It can also use the ATM channel to customize offers to its customers.

" It also offers SBI the option of enhancing MVS so that it can be used across its entire self-service terminals to provide a unified, connected customer experience to their customers.

" As vendor-agnostic software, banks can gain considerable cost and operational advantages by being able to procure ATM hardware and software components separately without the dependency of being tied to one vendor for both.

" From a back-end priority, the MVS allows for remote control monitoring and tracking of electronic journals, through dashboards, reporting and security alerts, thus significantly eliminating the need for physical intervention across a large geography.

Rajiv Kaul - Executive Vice Chairman, Chief Executive Officer and Whole time Director at CMS Info

Systems, said, "MVS has changed the role that an ATM used to perform for a Bank. MVS makes the ATM a central component to the Bank's digital strategy where it starts playing the role of an intelligent branch manager and sells personalized products and services to the customers. Financial institutions could leverage ATMs better by linking it to mobile banking and CRM systems; so as to offer seamless banking experience to their customers."

He added, "MVS is a marketing tool, it is an easy deployment tool, it is a compliance tool and it is a control tool. This solution has been made-inIndia and customized-for-India to help banks realize more from their ATM network. We are excited to continue leveraging our platform and in-depth sector expertise to provide highly customized solutions for other public and private banks in India."

SBI is the largest commercial bank in terms of assets, deposits, branches, customers, and employees.