What is a white label ATM
ATM has made a life of common man very easy. You must be aware of word ATM, but White Label ATM what’s that? What you should know about White Label ATM . Well ATM device is generally categorized in three groups.
3) Economical institution Possessed ATM
What is White Label ATM ?
The Computerized Teller Devices (ATMs) which is set up, managed by non-banks is called as White Label ATM (WLA).
Features and Popular functions of White Label ATM are same as that of Regular ATM machines.
Difference is this ATM device does not have any marketing of Economical institution.
These machines are usually implemented by NBFC (Nonbanking Economical Institutions).
The essence about White Label ATM is to increase regional distribute of ATM so that more number of people can be integrated under financial addition program.
Brown Brand ATM is discussing price idea. In Brownish Brand ATM components is belonging to service agency, but cash management and system connection is offered by attract bank.
Features and procedures of Brownish Brand ATM are same as that of normal ATM Machine.
This device contains Logo of attract bank.
Brown Brand ATM is affordable solution for banks.
The 'brown label' idea is being implemented by larger banks, like Axis and ICICI Economical institution, and small creditors like Dhanlaxmi and Ratnakar Economical institution. Some state-owned banks like Organization Economical institution are also using this approach to flourish their system, while others like Main Economical institution and Economical institution of Baroda are also looking at increasing their current ATMs using the brown label idea.
"While financing is not a problem for bank, setting up ATMs was a time-consuming process. This starts from determining a site, discussing with the property owner, organizing connection and power last but not least doing up the decorations," said Sunil R Udupa, chief executive & CEO, Financial Business at AGS Manage Technological innovation, which focuses primarily on implementing ATMs. He said as compared to a bank which takes anywhere up to six months to complete a rental contract, a source is able to do this in a few days.