Gramateller can be installed in remote places
On the surface, it seems to be a run-of-the-mill
machine spewing wrinkle-free notes. Yes, we are talking about ATMs that you use every second day to withdraw money or check your ever-dwindling balance. But imagine millions of ATMs dotting the rural landscape. Only their cost has to be much lower, they have to be hardier, should be able to handle soiled notes and, obviously, possess a different kind of authentication (maybe thumbprint) since most of the villagers are unable to read and write properly.
Sounds impossible, doesn’t it? Not really, for IIT Madras’ Telecommunications and Computer Networks (TeNet) Group, and a technology firm, Vortex Engineering (part of TeNet Group) have done exactly that with their rural ATM, Gramateller. Explains L. Kannan, Promoter, Vortex Engineering, “We have worked towards reducing the capital cost of an ATM to make it viable for banks to install them in remote, rural places. We have even incorporated features, which would enable such a machine to function effectively in these environments.”
Adds Ashok Jhunjhunwala, professor, IIT (Madras) and head, TeNet Group, “First, the idea was to develop a cost-effective model and later on add features like regional languages, biometrics et al. For this, everything had to be designed from scratch.” In its latest form, Gramateller is available at one-tenth the cost of a normal ATM.
Its system architecture is quite different from regular ATMs as it does away with the usage of switches and dedicated VSAT lines. Rather, the Gramteller establishes connection with the bank’s server through the internet kiosks mushrooming in several villages.
Other features that define the Gramateller, as pasted on TeNet’s website, include:
? Ability to handle used and soiled currency notes;
? Sensors to detect and correct false dispensation;
? Deposit acceptor with secure anti-fishing mechanism;
? Secure-chest with e-lock actuated only by remote bank-server;
? Smart-card based identification;
? Biometric authentication;
? Encrypted secure communication over the internet;
? Real-time online communication for ‘anywhere banking’;
? Video-conferencing facility for communication with remote bank officer.
The idea which created the concept of Gramateller was simple. “The per-transaction cost in a bank used to be as high as Rs.50, and now it has reduced to Rs.7-8. Still, it is quite high for low-value transactions. Usage of low-cost ATMs can lessen it further. Moreover, till today, banking hasn’t reached many rural areas,” avers Jhunjhunwala. Adds Kannan, “Vortex intends to enable banks and financial institutions to achieve better financial inclusion and enable them reach out to a larger segment of the populace.”
Well, amidst the haste at which technologies pass us by, and breakthroughs gape back at us in nanoseconds, the chances that a large part of the global society will not be able to keep pace with new developments, are quite high. But technologies like rural ATMs provide a ray of hope for the millions and millions of ‘have-not’ Indians. In addition, they can help translate Congress President Sonia Gandhi and Prime Minister Manmohan Singh’s dream of ‘inclusive growth’ into reality.
For Complete IIPM Article, Click on IIPM ArticleOn the surface, it seems to be a run-of-the-mill
machine spewing wrinkle-free notes. Yes, we are talking about ATMs that you use every second day to withdraw money or check your ever-dwindling balance. But imagine millions of ATMs dotting the rural landscape. Only their cost has to be much lower, they have to be hardier, should be able to handle soiled notes and, obviously, possess a different kind of authentication (maybe thumbprint) since most of the villagers are unable to read and write properly.Sounds impossible, doesn’t it? Not really, for IIT Madras’ Telecommunications and Computer Networks (TeNet) Group, and a technology firm, Vortex Engineering (part of TeNet Group) have done exactly that with their rural ATM, Gramateller. Explains L. Kannan, Promoter, Vortex Engineering, “We have worked towards reducing the capital cost of an ATM to make it viable for banks to install them in remote, rural places. We have even incorporated features, which would enable such a machine to function effectively in these environments.”
Adds Ashok Jhunjhunwala, professor, IIT (Madras) and head, TeNet Group, “First, the idea was to develop a cost-effective model and later on add features like regional languages, biometrics et al. For this, everything had to be designed from scratch.” In its latest form, Gramateller is available at one-tenth the cost of a normal ATM.
Its system architecture is quite different from regular ATMs as it does away with the usage of switches and dedicated VSAT lines. Rather, the Gramteller establishes connection with the bank’s server through the internet kiosks mushrooming in several villages.
Other features that define the Gramateller, as pasted on TeNet’s website, include:
? Ability to handle used and soiled currency notes;
? Sensors to detect and correct false dispensation;
? Deposit acceptor with secure anti-fishing mechanism;
? Secure-chest with e-lock actuated only by remote bank-server;
? Smart-card based identification;
? Biometric authentication;
? Encrypted secure communication over the internet;
? Real-time online communication for ‘anywhere banking’;
? Video-conferencing facility for communication with remote bank officer.
The idea which created the concept of Gramateller was simple. “The per-transaction cost in a bank used to be as high as Rs.50, and now it has reduced to Rs.7-8. Still, it is quite high for low-value transactions. Usage of low-cost ATMs can lessen it further. Moreover, till today, banking hasn’t reached many rural areas,” avers Jhunjhunwala. Adds Kannan, “Vortex intends to enable banks and financial institutions to achieve better financial inclusion and enable them reach out to a larger segment of the populace.”
Well, amidst the haste at which technologies pass us by, and breakthroughs gape back at us in nanoseconds, the chances that a large part of the global society will not be able to keep pace with new developments, are quite high. But technologies like rural ATMs provide a ray of hope for the millions and millions of ‘have-not’ Indians. In addition, they can help translate Congress President Sonia Gandhi and Prime Minister Manmohan Singh’s dream of ‘inclusive growth’ into reality.
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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