CMS’s ALGO OTC application now secures 30% ATMs in India
World’s first AI automated ATM Security software application further aims to expand coverage
Mumbai, 19 April 2023: CMS Info Systems Limited, India’s leading business services company offering banking logistics and technology services, has now secured 30% ATMs across India through its proprietary award-winni ng security application ‘ALGO OTC’. This application helps banks implement RBI guidelines on OTC Lock Activat ion to ensure the mitigation of risks during ATM operations and enhancing security.
Launched in 2019, ALGO OTC is the world’s first fully automated, Artificial Intelligence powered and mobility-based ATM security software application. ALGO OTC is equipped with first-ever Geo fencing and GPS-enabled user face recognition which helps in reducing risks and fraud during cash replenishment cycle at ATMs across In dia. Integrated with maker–checker approval, ALGO OTC can be used by any Bank or Vault for cash replenish me nt, FLM, SLM and Vault-related activities.
The company plans to further implement the software application ALGO OTC to existing 15,000 ATMs of the lar gest bank in India in CY2023.
“We look forward to introducing ALGO OTC as a software solution to all national and regional banks and assist them in securing their ATMs operations cycle” said Manjunath Rao, President – Managed Services, CMS Info Sy stems. ” This AI-enabled ID verification software is a fully automated OTC and can be generated with or without Internet connectivity along with a compliant audit trail for future verification with a backend reporting portal fo r real-time updates on usage. The coverage of ALGO OTC on Indian ATMs is a testimony to CMS’s promise to deli ver a secured and compliance framework to banks in consumer’s interest.”
ALGO OTC is a machine agnostic security software and can operate on any ATM OEM with any safe/vault lock. It can also be deployed by banks across the world on their ATMs to become fully compliant with the latest global norms for ATM safety and security.
About CMS Info Systems Limited:
CMS Info Systems Limited (BSE: CMSINFO | 543441, NSE: CMSINFO) is a leading business services company pro viding logistics and technology solutions to banks, financial institutions, organized retail and e-commerce compa nies in India with presence across Cash Logistics, ATM Managed Services and Technology Solutions.
CMS businesses include ATM and Retail Cash Management, Currency Chest Automation, Bullion Logistics, Bank ing Automation Solutions, Brown Label ATM and Managed Services, Multi-vendor Software Solution, ATM Secu rity Software, AI-based Remote Monitoring Services and Card Issuance, Management and Personalization.
CMS is India’s largest cash management company based on number of ATM points and number of retail pick-up points as well as one of the largest ATM cash management companies worldwide.
