Vortex Engineering

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 Engineering
Founded2001
Headquarters
No 6B, 6th Floor, IIT Madras Research Park, Chennai
,
India
Area served
Financial Institutions and banks
Key people
L. Kannan, Founder 
                   Sathyan Gopalan, CEO
Gopalakrishnan Srinivasan, Financial Controller
ProductsATMs, Cash Dispenser
ServicesATM Managed Services
Number of employees
201-500
Websitevortexindia

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
  1. "Archive News". The Hindu. Retrieved 1 December 2016.
  2. "Archive News". The Hindu. Retrieved 1 December 2016.
  3. "Vortex set to install 300 solar ATMs in rural SBI branches". Financialexpress.com. 13 March 2010. Retrieved 1 December 2016.
  4. "State Bank of India signs for 300 solar-powered ATMs". Finextra.com. Retrieved 1 December 2016.
  5. "ATM machines". IndiaGetGreen blog. 22 February 2014. Retrieved 1 December 2016.
  6. "Solar ATMs changing the face of banking in India". Cnbc.com. 1 April 2014. Retrieved 1 December 2016.
  7. Saga, Ben (2 April 2016). "A unique ATM".
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