Tata Communications wins contract for deploying and managing nearly 14,000 ATMs for public sector banks across three regions of India
Mumbai (BSE, NSE) - August 1st 2012 - Tata Communications Banking InfraSolutions (TCBIL), a wholly-owned subsidiary of Tata Communications, specialising in payment solutions for the banking and financial services sector, has emerged as the largest managed ATM service provider in the country as it signs a milestone contract to deploy and manage nearly 14,000 ATMs for all public sector banks across Tamil Nadu & Puducherry, West Bengal & Andaman & Nicobar and Andhra Pradesh. With this win, TCBIL has become India's largest managed ATM services provider, with almost 27,000 contracted ATMs nationwide.
Sudip Kumar, President, Tata Communications Banking InfraSolutions Ltd., said, "We are honoured to have won this prestigious mandate to assist the public sector banks in their endeavour to expand their ATM networks. This is a huge endorsement of our competence in the banking infrasolutions space as we commenced operations only three years ago. TCBIL will function as a one-stop solution to the banks for the entire value chain - from identifying locations to implementing the ATM as per their bespoke brand guidelines."
TCBIL will deploy and manage nearly 14,000 ATMs over a span of two years for all 21 public sector banks. Around 50% of the total rollout would be in semi urban and rural locations and the remaining 50% would be deployed in metro and urban markets.
TCBIL's service offering is based on deep domain experience of the banking sector backed by Tata Communications' highly resilient and secure global infrastructure and managed services credentials. TCBIL has a strong track record in deploying a wide portfolio of financial services for banks, such as:
- ATM outsourcing:end-to-end deployment and managed services
- Point of Sale (POS):enablement and management
- Card issuance:management and switching services
- Hosted services:core banking services, cheque truncation services
- Financial inclusion: end-to-end services
TCBIL at a glance:
- India's largest managed ATM services provider with over 26,700 ATMs contracted
- Manages more than 12,500 ATMs and 10,000 POS Terminals as on March 31st 2012
- Handles over 55% of POS traffic in India
- Handles 200 million card transactions annually i.e. close to 550,000 transactions every day
- Manages over Rs 1.8 crores of card transactions each month
- Enjoys the trust of over 25 leading banks in India as clients
About TCBIL Tata Communications Banking InfraSolutions Ltd. (TCBIL) is a wholly owned subsidiary of Tata Communications and one of the fastest growing payment solutions providers in the country. TCBIL is a banking and financial services organisation offering a one stop 'plug-and-play' infrastructure management solution on a pay-per-use model to its clients.
The company has been at the forefront in providing payment solutions on innovative business models like managed ATM services, managed hosted core banking solutions, point of sale solutions, card issuance & management and financial inclusion solutions. These services enable banks to focus on their core business, establish core banking processes, customer acquisition and retention channels with minimum resource allocations
About Tata Communications Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
The Tata Global Network includes one of the most advanced and largest submarine cable networks, a Tier-1 IP network, with connectivity to more than 200 countries across 400 PoPs, and nearly 1 million square feet of data center and collocation space worldwide.
Tata Communications' depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services, leadership in global international voice, and strategic investments in South Africa (Neotel), Sri Lanka (Tata Communications Lanka Limited) and Nepal (United Telecom Limited)
Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India and its ADRs are listed on the New York Stock Exchange. (NYSE: TCL)
Forward-looking and cautionary statements Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications’ expected financial position, business strategy, the future development of Tata Communications’ operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications’ network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company’s communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications’ industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications’ control, include, but are not limited to, those risk factors discussed in Tata Communications’ various filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.