ING Vysya launches self bank

ING Vysya Bank has tied up with Euronet Services India Pvt Ltd, a leading electronic payments provider, to open 200 "Self Bank" outlets as part of its strategic initiatives.

Self banking is a revolutionary concept aiming to upgrade an ATM experience by setting up kiosks in geographical proximity to branches, enabling a host of activity besides cash withdrawals.

"The main objective of the bank is to increase the number of new retail bank clients and to improve the service to the clients," says Shantanu Ghosh, country head "" retail banking.

Through this initiative, the company is bringing in its positive experiences seen in countries like Romania and Belgium to become a pioneer in India.

To start with, the bank will install 12 self bank outlets in Bangalore in next three weeks.

According to the agreement, the self bank outlets will be "outsourced" to Euronet which will deploy 200 self banks in major cities by 2007.