ATM managers like Diebold and NCR are looking to launch intelligent deposit ATMs, with multi-function capabilities like cash recycling, foreign exchange, loan repayment, cheque encashment, and bill payment for utilities, mobile recharge, and DTH top-ups. Intelligent ATMs have been designed with a gold coin dispensing facility, at AGS' innovation centre in Mumbai.
"Dispensation of gold coins is an attractive feature for the Indian market. Our CINEO C4060 model has many features, including passbook printing, statement printing and a gold coin dispensing facility. We've put in elaborate security measures in place, including firewalls, server clamping, ATM shutdown, to ensure our ATMs are 100 per cent secure," said Ravi Goyal, chairman and MD, AGS. Using a self-service module, these machines facilitate instant account opening and dispensation of personalised debit cards. They also offer a video conferencing facility and scrutiny of mandatory KYC documents.
Chandrasekhar, president-services, Electronic Payment and Services, said, "Cross-selling of products like granting of loans is something that is very easily doable and our ATMs have the capability. It's the underwriting and credit checks that needs to be in place from the banks' end." Retail insurance products like motor policies currently can be bought online from insurance sites and ATMs can also be embedded with the same functionality. "We can tailor-make any ATM for any cross-selling product based on the individual bank's requirement."
A State Bank of India official said bill payment for utility companies via ATMs is something the bank looks forward to. For forex, ATMs by OEMs like NCR and Hitachi have in-built capacity for three to five dispensation slots and banks can then select if they want to dispense US dollars, euros, pounds, Singapore dollars or dirhams from those slots. An executive from NCR, which has launched forex-enabled ATMs in countries like Mexico, said, "When foreigner visits India, they can use their American/British debit or credit card to withdraw Indian rupee from an ATM. The reverse, which is dispensation of US dollars or euros or pounds is not possible in India."
