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Suggestions for ATM Policy for India.

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Suggestions for ATM Policy for India � The above discussion leads us to raise some serious questions about the ATMs, Although the fact which emerges is that there is no escape from technological advancement, at the same time, answers should be found to questions like how much of new technology should be used? In what areas of banking operations should it be used? When should it be introduced? How much the banks should charge for the new services? ATM should be introduced on a very small scale, to certain areas, in only metro cities. In the initial phase only necessary services should be put on ATM agenda and the system should run on trial for some period. Following are some of the areas where precautions are required. 1. Security: The most important area of trouble related to ATMs will be security. Banks will have to design ways and means of fighting frauds, misappropriations, physical attack on customers using ATMs, etc. The areas where ATMs are installed should be well lit. ...read more.


9. Strictly limit employee access to PINs and PIN algorithms, and require dual control procedures. 10. Limit the number of PIN access attempts by the consumer. The majority of bank allows no more than three tries before capturing the card. 11. Ensure (hat your system docs not permit transaction when PINs cannot be verified. D. ATM Withdrawals 12. If appropriate, limit withdrawals when operating in an on-line mode. E. ATM Deposits 13. Consider limiting an immediate credit for deposits. 14. Require dual control for deposit verification. 15. Report ATM deposits in your kiting reports. F. System Requirements 16- Encrypt both hardware and software to prevent fraudulent entry. 17- Upgrade system for full PIN encryption. 18. Select an impartial third party to analyze systems and procedures on an basis. 19. Ensure that your system can Hot Card immediately after receiving a report of a lost or stolen card. G. Claim Processing 20. Require customers claiming unauthorized use 10 sign an affidavit. 21. Remind customers who claim fraud of the penalties for a false claim. ...read more.


It appears that banks would have to target older customers as they constitute a major part of customer population. It will be slightly more difficult to introduce technology based services to older customers due to their general resistance to it and preference for personalized services. 3. Purchases: Before making purchases of ATMs and related products, banks should take a very clear undertaking about reliability, service and maintenance of ATMs from the vendors. The ATMs should be suitable for Indian weather conditions. There should be provision for the use of regional languages in the software. 4. Maintenance: The work of maintenance -should be given to professional agencies. They should be completely reliable as it involves the question of security. In America there have been cases of embezzlement by service engineers. 5. Area Selection: ATMs can be installed in areas where there are no branches. Locations having higher density of population can be selected for installing ATMs. Highways, shopping centers, Hospitals, Petrol pumps, and other similar locations which have more cash flow, and which have more customers, can be ideal locations for ATMs provided security is ensured. The Bank of America has installed ATMs in some university campuses. While, selecting location, the crime rate in particular area should also be checked. ...read more.

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