In a bid to reach more of the country's underbanked population, India's Bank of Baroda is deploying 2100 ATMs from Diebold which automatically switch between three possible power sources - solar panel, alternating current grid and internal battery - as circumstances dictate.
Mumbai-based BoB operates more than 4000 branches throughout India. The bank is deploying at least one ATM at each branch, fulfilling a Ministry of Finance directive to expand self-service banking options for the approximately 40% of India's population that is underbanked.
The Diebdol 429 ATMs feature an integrated battery backup system and are designed to operate in environments with inconsistent power availability. Depending on daylight conditions, either solar panels or the AC grid power the ATM and charge its four-hour backup battery, which automatically activates when power is interrupted.
PD Singh, general manager, transaction banking, BoB, says: "Expanding the capabilities and breadth of our ATM fleet will improve access to banking services in both urban and rural areas."
As part of the deal, Diebold is also managing the performance and end user availability of BoB's entire multi-vendor fleet of more than 4000 terminals.