Stock Report

CMS's ALGO OTC application now secures 30% ATMs in India

Posted On : 2023-04-19 11:31:50( TIMEZONE : IST )

CMS's ALGO OTC application now secures 30% ATMs in India

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-winning security application 'ALGO OTC'. This application helps banks implement RBI guidelines on OTC Lock Activation 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 India. Integrated with maker-checker approval, ALGO OTC can be used by any Bank or Vault for cash replenishment, FLM, SLM and Vault-related activities.

The company plans to further implement the software application ALGO OTC to existing 15,000 ATMs of the largest 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 Systems. "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 for real-time updates on usage. The coverage of ALGO OTC on Indian ATMs is a testimony to CMS's promise to deliver a secured and complaint 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.

Shares of CMS Info Systems Limited was last trading in BSE at Rs. 286.60 as compared to the previous close of Rs. 290.35. The total number of shares traded during the day was 20861 in over 1135 trades.

The stock hit an intraday high of Rs. 289.80 and intraday low of 283.80. The net turnover during the day was Rs. 5977841.00.

Source : Equity Bulls


CMSINFO INE925R01014 CMSInfoSystems ATMs ALGOOTC SecurityApplication