FSS launches IoT, AI and ML-enabled ATMs

CHENNAI: Payments technology solutions provider Financial Software & Systems Pvt Ltd (FSS) has launched Internet of Things (IoT), Artificial Intelligence (AI) and Machine Learning (ML)-enabled ATMs in India.

ATM operators have long been struggling with thin margins while facing multiple challenges in managing an ATM site. Enabling the ATMs with cutting-edge technologies of IoT, AI and ML is expected to resolve 60% of ATM issues remotely without any manual intervention, said a statement issued on Tuesday.

V Balasubramanian, CEO, FSS CashTech, said minimal technological advancements have been made to better the ATM landscape and operators are finding it difficult to keep this business profitable.

"With this technological initiative, we aim to revitalize the ATM industry in India by optimising ATM operations with tech and automation, resulting in enhanced ATM management, improved efficiency, increased uptime and better customer experience," he added.
Currently, the company services 25,000 ATMs for private and public sector banks in the country.


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