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| Tata Comm enters managed banking infra solutions space |
| Press Trust of India / Mumbai Sep 17, 2009, 17:04 IST |
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Tata Communications today announced its foray into the fast-growing managed banking infrastructure solutions space through a subsidiary, Tata Communications Banking InfraSolutions (TCBIL).
"It will offer managed payment infrastructure services to banks with a basket of products like, ATM, point of sale, internet banking, mobile banking and core banking solutions among others," TCBIL President Rajiv Singh said here.
Stating that the penetration of ATMs in India is only at 33 for one million people as compared to over 1000 for the same number in the devloping nations, Singh said that TCBIL has already tied up with almost all the leading vendors across the world to deploy ATMs in India.
"We are going to bring in "through the wall" ATMs which will reduce the cost of putting up an ATM and will design the machines as per the need of the customers of the banks," he said.
The 'Through the Wall' ATMs would not require to be manned as they will be putting up on a side of the wall. The company also proposes to bring in machines which can even be installed in areas where there is no electricity and can be powered with solar energy. Biometric machines are also to be brought in.
"Our people are already working in more than 200 cities in India and are actually installing a couple of 100 machines in various places," Singh said declining to reveal the identity of the banks for which it was doing the job."We can't disclose the names. However, we are working with the public sector banks. We are also in talks with almost all PSUs to provide world-class ATMs ," he said.
For core banking solution, TCBIL sees potential in co-operative and regional rural banks, Singh said, adding that TCBIL would offer pay-per-use-price model with no increase in rate for transaction over five years.
"Over 30,000 branches of co-operative and RRBs are yet to be covered by core-banking systems," he said to highlight the potential in this domain.
On the payment of sale, he said that only four per cent of India's 12 million retail establishments accepts card payment and only a fourth of this is under the outsourced model, thus presenting a large opportunity for players like TCBIL.
"Our people are already working in more than 200 cities in India and are actually installing a couple of 100 machines in various places," Singh said declining to reveal the identity of the banks for which it was doing the job.
"We can't disclose the names. However, we are working with the public sector banks. We are also in talks with almost all PSUs to provide world-class ATMs ," he said.
For core banking solution, TCBIL sees potential in co-operative and regional rural banks, Singh said, adding that TCBIL would offer pay-per-use-price model with no increase in rate for transaction over five years.
"Over 30,000 branches of co-operative and RRBs are yet to be covered by core-banking systems," he said to highlight The potential in this domain.
On the payment of sale, he said that only four per cent of India's 12 million retail establishments accepts card payment and only a fourth of this is under the outsourced model, thus presenting a large opportunity for players like TCBIL.
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