Unbanked Population in India, Global ATM technology trends, Tender Bid Process ATM Managed Services-Ken Research

1. India ATM Managed Services Market is Driven by Increasing Penetration of White Label ATMs in Rural Areas Coupled with Growth in Branchless Banking: Ken Research Increasing number of outdated ATMs has led to surge in demand for latest and upgraded technology driven ATMs which led to expansion of India ATM Managed Services Market. Analysts at Ken Research in their latest publication, “India ATM Market Outlook to 2023 – By ATM Supply, Managed Services (ATM Repair, Maintenance and Other Services, Transaction Processing, Cash Reconciliation Statement, Content and Electronic Journal Management) & Cash Management (ATM Replenishment, CIT, CPD)” believe that promoting better regulations, setting up biometric ATMs in rural areas and focusing towards hybrid business models will aid the India ATM Managed Services Market. India ATM Managed Services market is expected to register positive CAGR of around 6.7% during the period FY’2018-FY’2023 in terms of revenue. ATM repair and maintenance along with cash management services will expect to have positive impact on overall revenue generation for the India ATM Managed Services market. Currently ATMs are majorly concentrated in cities and urban areas, whereas very low penetration was observed in rural areas of the country. As a result of which, it is skewed toward the most developed states: Tamil Nadu, Karnataka and Maharashtra have high ATM penetration, while large

2. but less developed states like Rajasthan, Uttar Pradesh and Bihar are well below the national average in terms of ATM penetration. The Government of India through its various schemes has helped to bridge these gaps and provide broader access to local residents. Efforts towards increasing ATM penetration and to increase the efficiency of existing ATM machines have made India one of the largest markets for ATM deployment in Asia. White Label ATM companies are largely focusing on rural areas as demand for cash is increasing in that area due to Pradhan Mantri Jan-Dhan Yojana (PMJDY) in which people are encouraged to open bank account at zero balance which driven the demand for debit card transactions in rural areas majorly. These entities are increasing the existence of ATM services in rural areas. As of May 31st, 2017 new RBI circular has mandated banks to upgrade the OS and security feature of non-compliant ATMs. It is reported that majority of the ATMs in India were running on outdated operating systems, thus making them vulnerable to cyber-attacks. Increasing security threats to the cash in ATMs, and the need to improve efficiency in cash handling through improved hardware, has contributed to the replacement demand for ATMs in India. Many cash dispensers are now being replaced with cash recyclers to improve the efficiency in cash replenishment in India. For more information on the research report, refer to below link:- https://www.kenresearch.com/banking-financial-services-and-insurance/banking/india-atm- management-services-market/153175-93.html Related Reports:- https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india- financial-brokerage-market-report/29331-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and- advances/india-online-loan-market-research-report/622-93.html Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Sales@kenresearch.com +91-9015378249