APN News

  • Thursday, April, 2017| Today's Market | Current Time: 04:15:30
  • Assisting in addressing the cash crunch in rural and semi-urban India- Ecoteller Mini ATM

    Mumbai: Ensuring last mile delivery to financial access, Ecoteller Mini ATMs by Vortex Engineering is the answer to the current cash crunch across the country. A Made in India product, the “Mini ATM” is best suited to address the financial need amongst the rural and semi-urban population.  The Ecoteller Mini is calibrated to dispense the new Rs 2000 and Rs 500 currency along with smaller denominations (Rs 20, Rs 50, and Rs 100) and comes with a variety of deployment options as it can be mounted on a wall, put on a table top as well as be used as mobile ATM. The height and weight (1.5 sq. ft., 50 kgs) acts to its advantage due to easy deployment and relocation in centres such as post offices and Kirana stores.

    The Ecoteller Mini ATM is the industry’s first product in the desktop ATM segment designed to run without an air-conditioner, needs the lowest possible UPS/Battery and solar panel infrastructure. The Ecoteller Mini, builds on the automation of cash dispensation and customer self-service, as provided by conventional ATMs, and provides the mobility and Aadhaar enablement of micro-ATMs to present a solution that has the best of both the machines. Currently, there are over 100 Ecoteller Mini ATMs on the field installed and running in various public sector banks across the country.

    Mr Sathyan Gopalan, Chief Executive Officer, Vortex Engineering says, “The present de-monetisation challenges have proven that there remains an unfulfilled need for cash dispensation, especially in semi-urban and rural areas. The unbanked population, which comprises of a large section in India, depends on cash for their daily needs and hence it will always remain a strong part of the Indian economy. In these difficult times, we need a quick solution that can help banks deploy cash in the inaccessible areas. The Ecoteller Mini ATM is a safe technology for remonetisation and tailor made for remote locations, given its mobility, ease of use and low power it operates on. Having being designed and made in India, its scalable and sustainable and fits as the right balance between good product design, provider responsibility and customer requirement in the rural markets.”

    A Chennai based start-up, Vortex Engineering is one of the few companies worldwide and the only one in India with its own proprietary cash dispensing technology and has been helping banks in pioneering ATMs for deployment even in the most difficult and challenging environments across the country. Committed to the Make in India initiative of the government, the company has over 3000 units of Ecoteller family of ATMs deployed in India and overseas and holds several international patents.  With a strong foundation built on R&D, a steady focus on rural and Indian sub-continent needs and, collaboration with Indian Institute of Technology Madras, Vortex is looking to change the face of banking with its reliable range of ATMs.