SVC Bank (SVC Co-operative Bank Ltd.) earlier known as The Shamrao Vithal Co-operative Bank Ltd., has pioneered the launch of the first Brown Label ATM network in the history of Co-operative Banking, claims a press release from one of the top UCBs in the country.
SVC Bank has strategically tied up with Writer Safeguard Pvt. Ltd. to make this feat possible, drawing from the expertise of the 60+ years old group. Brown Label ATMs entail an outsourced model of ATMs which enable a bank to have widespread reach of its ATMs.
Commenting on the launch Rakesh Singh, Head – Retail Banking, SVC Bank said, “Tactical expansion is our core strategy this year, where we are looking at high business gains with low incremental costs. This Brown Label ATM network will see a lot of SVC Bank ATMs launched in our key strategic pockets where we will be able to better our customer engagement as well as increase our visibility.
“We are proud to be the first mover in this project with the launch of 50 Brown Label ATMs and we will take this advantage further with a massive number of ATMs to be launched in the second phase”, Singh added.
On this occasion, Mr. Suneel Aiyer – CEO – Writer Safeguard Pvt. Ltd. said, “It is a momentous occasion for Writer Corporation and SVC Co-operative Bank to collaborate in the ATM network outsourcing space.
SVC Bank is one of the oldest co-operative Banks in the country and with Writer’s expertise in the cash solutions and ATM payment services space, our partnership will play a key role in creating the best-in-class technology-driven network in the Indian Banking sector, said the CEO.
He further added, “ATM management is crucial for any bank looking to deliver the best possible customer service, so reliability and efficiency is key. Writer will ensure an unmatched customer experience for SVC ATM users.”
Co-operative banks are joining the digital bandwagon and inventing innovative ways of accentuating their customer experience promise with controlled investments. This low ticket –high impact approach will see a faster outreach of digital banking to the grass roots, making even the have-nots become a part of the Digital India initiative.
Set up in 1906, SVC Bank has a presence across 11 states. It is also the first and only bank to develop and offer ‘Genius’ – a core banking solution to more than 80 other cooperative banks.
It had a total business of over Rs. 25000 crores plus and a net profit of Rs. 132 crores (FY 17-18). Headquartered in Mumbai, the Bank has a spread of 198 branches and has an employee strength of over 2500.