CMS Info Systems said on Sunday it has secured a five-year mandate from HDFC Bank to provide end-to-end managed services for about 6,000 automated teller machines, in a contract valued at roughly Rs 400 crore.
India’s largest cash management services provider said the outsourcing agreement covers ATM operations including currency forecasting and logistics, along with deployment of its Vision AI-based monitoring solution, HAWKAI, aimed at improving uptime and compliance.
The deal strengthens CMS’s presence among private-sector lenders and follows recent expansions of its partnerships with large banks. The company said revenue from private banks has risen to about a quarter of its total, up from roughly a fifth a year earlier, and it is targeting a further increase over the next two years.
Chief Business Officer Anush Raghavan said the HDFC Bank mandate validates CMS’s technology-led platform and nationwide operating scale, adding that the company has now secured major contracts with three of the country’s biggest lenders.
CMS earlier won a large ATM services mandate from State Bank of India expanded its engagement with ICICI Bank.
CMS Info Systems said the latest order positions it to accelerate growth in its ATM management solutions business as banks increasingly outsource cash and infrastructure operations to specialist service providers. |
