Vakrangee has received final authorization of the White Label ATM (WLA) License from Reserve Bank of India (RBI). Under, the said license, the company is entitled to set up and run minimum 15,000 ATMs across the country in next three years.
White label ATMs are those which are not run by the Banks but by a non- banking entity in its own brand name (like Vakrangee ATM) after passing through all the stringent qualification and due-diligence process undertaken by RBI. These ATMs shall have all the functionalities like that of a Bank -run ATMs.
The White Label ATM business is a perfect strategic fit for the company’s current business of Rural Bank Branch Management wherein Brick and Mortar bank branches (As Common BC) being set up and run by Vakrangee for the PSU banks with real time banking transactions happening at these out-sourced PSU bank branches by seamless integration with the Core Banking Solution (CBS) of respective PSU Banks.
As far as ATM business is concerned, Vakrangee shall focus more towards sub tier-III towns with huge potential, Also, Vakrangee is uniquely positioned to address all the challenges for setting up and running the ATM business in these Sub Tier-III towns.
Vakrangee Softwares is one of the few leading E-Governance service provider in India equipped with cutting edge infrastructure, highly experienced professionals, investment and technological breakthrough on a continual basis in order to maintain time bound completion of critical projects.
White label ATMs are those which are not run by the Banks but by a non- banking entity in its own brand name (like Vakrangee ATM) after passing through all the stringent qualification and due-diligence process undertaken by RBI. These ATMs shall have all the functionalities like that of a Bank -run ATMs.
The White Label ATM business is a perfect strategic fit for the company’s current business of Rural Bank Branch Management wherein Brick and Mortar bank branches (As Common BC) being set up and run by Vakrangee for the PSU banks with real time banking transactions happening at these out-sourced PSU bank branches by seamless integration with the Core Banking Solution (CBS) of respective PSU Banks.
As far as ATM business is concerned, Vakrangee shall focus more towards sub tier-III towns with huge potential, Also, Vakrangee is uniquely positioned to address all the challenges for setting up and running the ATM business in these Sub Tier-III towns.
Vakrangee Softwares is one of the few leading E-Governance service provider in India equipped with cutting edge infrastructure, highly experienced professionals, investment and technological breakthrough on a continual basis in order to maintain time bound completion of critical projects.
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