Cisco Systems, Inc. (NASDAQ:CSCO) reported that it is introducing automated teller machine (ATM) solutions for Indian banks to help them install ATM services in remote areas. The Cisco solution will allow banks to install ATMs in remote areas faster and at about one-half the cost of other options.
The Cisco ATMs use cellular technology which provide increased bandwidth (and the potential for additional services) and the ability to deploy rapidly. The Cisco systems are reliable, secure and can also be used for branch office operations.
Banks in India are now subject to a government mandate to expand ATM services across the country. By giving banks a faster and cheaper option, Cisco hopes to capture a significant portion of this market.