Vortex Engineering
Founded | 2001 |
---|---|
Headquarters | No 6B, 6th Floor, IIT Madras Research Park, Chennai, India |
Area served | Financial Institutions and banks |
Key people |
L. Kannan, Founder-CTO; Sathyan Gopalan, CEOR. Narayanakumar, CTO |
Products | ATMs, Cash Dispenser |
Services | ATM Managed Services |
Number of employees | 201-500 |
Website | vortexindia |
Vortex Engineering is an India-based company making self-service transaction systems (such as ATMs) for banks. Vortex also offers services for ATM Management.
Vortex ATMs are also now used in several countries outside India, especially in Asia & Africa. Vortex is backed by investors: Tata Capital, Aavishkaar, Ventureast, Oasis and IFC (A World Bank subsidiary).
History
Vortex was founded by an IIT Madras alumni, L.Kannan in 2001. Around 2004-05, they ventured into ATMs. Their first pilot deployment was for disbursal of NREGA wages through their ATMs in Tamil Nadu, in association with IIT Madras in 2008.[1]
They made their first major break though with the winning of an order for 545 ATMs including 300 solar powered ATMs from the State Bank of India.[2][3][4] Vortex ATMs are now currently used in almost all states of India.
Products & Services
Vortex has specifically designed ATMs that could operate(up-to 50-degree-Celsius) at any conditions in the world. The ATMs manufactured by Vortex consumes very less power and constitutes very less mechanical and electrical parts as compared to other conventional ATMs.[5] All the Vortex ATMs come with solar power options for greater availability in areas having severe power shortage, whereas no other ATM is commercially viable to be operated with solar power due to its higher power consumption.[6][7]
References
- ↑ "Archive News". The Hindu. Retrieved 2016-12-01.
- ↑ "Archive News". The Hindu. Retrieved 2016-12-01.
- ↑ "Vortex set to install 300 solar ATMs in rural SBI branches". Financialexpress.com. 2010-03-13. Retrieved 2016-12-01.
- ↑ "State Bank of India signs for 300 solar-powered ATMs". Finextra.com. Retrieved 2016-12-01.
- ↑ "ATM machines". IndiaGetGreen blog. 2014-02-22. Retrieved 2016-12-01.
- ↑ "Solar ATMs changing the face of banking in India". Cnbc.com. 2014-04-01. Retrieved 2016-12-01.
- ↑ Saga, Ben (2 April 2016). "A unique ATM".