HMA floats new bank automation firm

CHENNAI: HMA Data Systems (Pvt) Ltd, the Chennai based retail banking solutions company, has launched CashLink Global Systems Pvt Ltd (CGS), which would focus on retail bank automation. CGS has entered into partnership with UK-based De La Rue for teller automation solutions.

A year after relinquishing its business with Diebold, HMA is re-entering the hardware business after a gap with CGS. CGS would look into automating the bank branches by operating in three segments — teller automation, self-service terminal and multi-vendor ATM maintenance services.

"India has over 60,000 bank branches of which 8,795 are in the five metro cities. The element of branch banking is certainly for customer retention and expansion of customer base for the banks. A study conducted in many parts of the world says 90 percent of customer relationships are won or lost in branches. Branches define customer bases for the bank. Hence usage of technology, delivery channels at the back branch is a prudent investment," said HMA Group chairman, Harish K Murthi.

Elaborating on the teller automation services, De La Rue's regional manager (Asia Pacific) Benjamin Thorpe said that today the bank branches have changed dramatically, since branches are moving to where the customers are located. "The teller automation provides for faster transaction, and banks can spend more time with the customer and offer more security and flexibility," he added.