Chennai:
Karur
Vysya Bank (KVB) has signed up the city-based Financial
Software Services and Systems Ltd (FSS) as a technology
partner to facilitate online automated teller machine
(ATM) services in select cities.
The
agreement was signed here at a press meet addressed by
KVB chairman A D Navaneethan and FSS MD Nagaraj Mylandla.
Navaneethan said
the bank, with 211 branches and10 ATMs, has issued 13,500
ATM cards. It plans to add 100 ATMs before the yearend.
KVB also plans to offer debit infrastructure across 25
ATMs in the first phase, going up to 100 ATMs over a one-year
period.
The bank has 1.3 million customers. With the launch of
online ATM
services, all KVB branches can issue ATM cards and their
customers can benefit from the ATM facilities, he said.
The
bank has spent around Rs 25 crore in computerisation in
147 branches and work was progressing in another 40 branches.
We intend to spend another Rs 25-50 crore in computerisation
as we go along, he said. Around 85 per cent of the business
emanates from computerisation.
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