Syndicate Bank plans to outsource ATM management

The bank has been strengthening the ATM delivery channel by adding more from time to time

Public sector lender Syndicate Bank plans to outsource management of its off-site ATMs and those at branches to support expansion of alternative channels and improve ATM services.

At present, the Manipal-based bank has 1,240 ATMs on its network consisting of 1,046 on-site ATMs and 194 off-site locations.

Initially, the bank intends to go for outsourcing ATM Management Services at 194 off-site ATMs. This might be extended to all the new off-site ATMs opened subsequently. Also, the bank proposes to go for partial outsourcing of management of on-site ATMs, it said in a bid document.

The bank has been strengthening the ATM delivery channel by adding more ATMs from time to time. It plans to add 1,300 ATMs during this year.

The move to provide more value-added facilities and features is also on the cards. The bank thus intends to ensure the highest uptime of ATMs on an on-going basis, it said.

At present, its switch for ATMs is connected to three external networks - NFS, Visa Network and Master Card Network - for the customer's access and convenience.

NFS Network is promoted by National Payments Corporation, which is a consortium of banks. Visa Network has a global reach and is facilitated to the bank's customers for ATMs and POS terminals/ locations.

The bank has finalised an agreement to be a member of the 'Master Card' network so that customers could get global access for ATMs, POS terminals\locations, it added.