IDBI Bank dares to try a new ATM switch

IDBI Bank has done it again – dared to be different, that is! After having gone off the beaten track by trying a new banking software, Finacle, it is now trying, again for the first time in the country, a new ATM switch. Its existing Interlink switches, called CR2, are to be replaced with the Canadian-made Oasis switches.

Canada-based Oasis Technology has been supplying its ATM switches to over 70 countries. Oasis is also engaged in e-commerce, electronic funds transfer (EFT), ATM, online switching products, card management and clearing and settlement solution for financial services, retail etc sectors. The company today has operations in around 70 countries.

Earlier addressing the media Mr. Shameek Bhargava, head - ATMs and card products, IDBI Bank said the bank migrated to Oasis architecture as it is earlier product - Interlink- is a proprietary technology.

Continuing further he added, "We decided to move away from proprietary technology as Oasis is open architecture that is scalable and would result in reduction in ATM network operating costs in the long run by 30 per cent." As an open system Oasis is hardware independent and can run on IBM, HP or Sun machines.

Oasis switches are understood to have the capacity to recognize multiple hosts and transfer data accordingly. The system is said to be compatible with the banking industry's' ATM network Swadhan, thus ensuring that even a non- IDBI Bank ATM card holder can transact business without any hitch.

The Oasis switch is being distributed in the country by the Chennai-based HMA STARware, which has also supplied the bank with Concenter an ATM monitoring system from Datawest Solutions Inc., Canada. The Oasis switch and `Concenter' according to Mr. Bhargava enables the bank to introduce newer retail products based on ATMs.