This addition to PNB’s ATM network takes the total number of cash vending machines that CMS has installed and is being serviced to over 17,500 as of March 2023, which is a growth of over 50 per cent, a company official told PTI.
The official also said they make 34 per cent of their revenues from managed ATM services.
That makes CMS the largest ATM-managed services provider to PNB, the company claimed on Wednesday.
The mandate from PNB includes end-to-end management of their designated ATMs through a single point of accountability, including monitoring, cash management and forecasting of cash replenishments, and ensuring high availability and uptime, Manjunath Rao, president of managed services at CMS said.
Its managed services business includes banking automation, ATM-as-a-service and technology solutions for the site infrastructure, security and customer experience, he added. CMS’s businesses include cash logistics, banking automation, managed services, remote monitoring solutions, and technology solutions and services over 1,50,000 business commerce points. When it comes to cash logistics and ATM software solutions, it is the market leader.