Biggest personal loan lenders in the country, State Bank of India and ICICI Bank are planning to outsource ATM management services. If the deals come true, it would cost Rs 4,500 crore and Rs 1000 crore for the corresponding banks.
These banks are succeeding the lead taken by small banks and prevent the troubles of managing large ATM networks.
SBI has called for bids to handle its ATM network of 20,000 machines besides the new 5000 ATMs which it intends to include in its bag by this year end.
ICICI Bank is said to have shortlisted FSS and Die-bold to look after its 5,600 ATM network.
An ICICI Bank spokesperson stated, “We continue to manage our ATM network and it has not been outsourced. We do keep receiving proposals from parties/vendors for outsourcing the management of our ATM network. However, currently we have not taken any decision to outsource.”
Till date, Axis Bank has elected to start its outsourced ATMs.