Vakrangee's Vortex Secures Rs 12.81 Cr ATM Deal with UCO Bank 🚀
Hey finance enthusiasts! 👋 We’ve got some exciting news from the banking technology space. Vakrangee Limited, a name you might know for its extensive last-mile distribution network, just announced a significant win for its subsidiary, Vortex Engineering Private Limited.
Vortex Engineering has inked a Service Level Agreement (SLA) with UCO Bank to supply, install, and maintain 300 brand-new ATM machines. This isn’t just a one-off deal; it’s a comprehensive, end-to-end solution spanning a period of seven years, with a total contract value of a solid Rs. 12.81 Crore! 💰
So, what does this mean? For Vortex, it’s a major boost, further solidifying its position as a premier provider of advanced ATM solutions. They’re known for their technological innovation, energy efficiency, and a strong commitment to excellence, which clearly resonated with UCO Bank.
This agreement also highlights Vortex’s dedication to the ‘Make-in-India’ vision. As a proud Swadeshi company, they’re all about domestic design, development, and manufacturing of world-class ATM infrastructure. This focus on indigenization isn’t just about business; it’s about strengthening India’s digital financial ecosystem, fostering local innovation, and creating employment opportunities – all key pillars of the ‘Atma Nirbhar Bharat’ mission.
Vortex isn’t new to this game; they’ve already deployed over 14,000 ATMs across various geographies and boast an impressive annual production capacity of 12,000 units. Plus, their IP portfolio includes 9 registered patents in ATM and cash dispenser technologies, showcasing their engineering prowess. They even have their own remote ATM monitoring platform, ‘PERFO,’ which helps ensure optimal performance across different ATM networks.
This significant engagement with UCO Bank, a leading public sector institution, truly underscores Vortex’s strategic role in building resilient and future-ready banking infrastructure across the nation. It’s a step forward in driving inclusive digital banking in India, making financial services more accessible to everyone. Keep an eye on how this partnership unfolds! 📈
source: Corporate Announcement
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