Diebold Helps Bank of Baroda Serve India's Underbanked With Intelligent-Powered ATMs Versatile ATMs extend banking services to previously impractical areas
NORTH CANTON, Ohio, Dec. 10, 2013 /PRNewswire/ -- Diebold, Incorporated (NYSE: DBD) is helping Bank of Baroda (BoB) extend services to more of India's underbanked population with automated teller machines (ATMs) specially designed for the Indian market. Diebold is implementing 2,100 Diebold 429 ATMs, the world's first intelligent-powered terminals, which automatically switch between three possible power sources (solar panel, alternating current (AC) grid and internal battery). The ATMs feature an integrated battery backup system and are designed to operate in environments with inconsistent power availability. Diebold is also managing the performance and optimizes the end user availability of BoB's entire multivendor fleet of more than 4,000 terminals, providing total implementation services, managed services and second-line maintenance.
Mumbai-based BoB operates more than 4,000 branches throughout India. The bank is deploying at least one ATM at each branch, fulfilling a Ministry of Finance directive to expand self-service banking options for the approximately 40 percent of India's population that is underbanked.
"Expanding the capabilities and breadth of our ATM fleet will improve access to banking services in both urban and rural areas," said PD Singh, General Manager, Transaction Banking, BoB. "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. Depending on daylight conditions, either solar panels or the AC grid power the ATM and charge its four-hour backup battery, which automatically activates when power is interrupted.
"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, Diebold South Asia. "We're enabling Bank of Baroda to deploy ATMs across its footprint, including locations – and customers – it could not previously reach."
The ATMs' security features – including Europay, MasterCard and Visa (EMV) card readers, biometric technology and optional dual security cameras – help to mitigate card fraud and data security threats, while complying with the latest National Payments Corporation of India (NPCI) regulatory requirements.
About Bank of Baroda
Bank of Baroda is an Indian state-owned banking and financial services company. It operates more than 4,000 branches and offers a global link with 97 branches, offices and subsidiaries located in 26 countries across the world. For more information, visit www.bankofbaroda.com.
Diebold, Incorporated (NYSE: DBD) is a global leader in providing innovative self-service technology, security systems and related services. Diebold has approximately 16,000 employees worldwide and is headquartered near Canton, Ohio, USA. Visit Diebold at www.diebold.com or on Twitter: http://twitter.com/DieboldInc.
SOURCE Diebold, Incorporated