Mumbai, India - September 30, 2021
CMS Info Systems (CMS), India’s largest cash management company (Source: Frost & Sullivan) based on number of ATM points and number of retail pick-up points as of FY2021, won the Best in Future of Trust award at IDC Future Enterprise Awards 2021, India for its CMS ALGO ATM OTC app.
IDC’s Future Enterprise Awards is designed to highlight successful digital innovation projects and initiatives across the Asia Pacific region in different categories. CMS Info System’s digital transformation project was selected as one of the winners at the country/India level among entries received from end-user organizations across participating countries.
CMS ALGO is a mobility-based ATM security enablement software application to prevent unauthorized access to the ATM safe while controlling access during cash replenishment or maintenance services. It provides E2E password management through facial recognition and geo tag-based validation. It has been implemented across CMS Info Systems’ businesses and is currently providing secure access to over 35,000 ATMs across India as of March 2021.
CMS ALGO enables banks to implement RBI (Reserve Bank of India) guidelines on OTC Lock activation by providing geofencing & GPS enabled, user face recognition, credential authentication, OTC code generation software.
Mr. Rajiv Kaul, Executive Vice Chairman, Chief Executive Officer and Whole Time Director, CMS Info Systems Ltd., said, “CMS ALGO is a classic example of our digital transformation strategy. In the fintech domain, CMS ALGO’s implementation is aimed at enabling banks to reduce high risk and liability. It supports a broad range of stakeholders, customers, and internal teams to enable them to smoothen their efforts in real-time, increase productivity, and improve trust.”
To increase economies of scale for ATM operations, CMS leverages technology with platforms like CMS Algo (OTC), CMS Connect (ATM and field operations), and CMS Agile (recon management). These systems monitor and track the allocation of resources across its business, enabling it to minimize the duplication of efforts and resources and drive operational efficiencies.
CMS Info Systems Ltd. (CMS) is India’s largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2021, and offers its customers a wide range of tailored cash management and managed services solutions, including ATM network management, retail management, managed services and software solutions. Its integrated business platform is supported by customized technology and process controls, which enables it to drive synergies and efficiencies across its business and generate cross-selling opportunities. It caters to a broad set of outsourcing requirements for banks, financial institutions, organized retail and e-commerce companies in India. Asia’s largest PE firm, Baring PE Asia’s affiliate Sion Investment Holdings Pte. Limited holds 100% stake in CMS Info Systems.