Cosmos Co-op Bank has purchased the ATM Switch, SmartVista based on latest technology platform, from BPC Banking Technologies which has its headquarters in Switzerland. BPC is the world’s leading provider of Open System, e-payment solutions for the global financial industry informed Cosmos Bank’s Chairman, Krishnakumar Goyal.
Chairman, Goyal stated that SmartVista covers every aspect of electronic payments-high performance authorization switching and routing, full ATM and POS management, comprehensive card management, advanced fraud prevention, loyalty program management, card personalization and production, billing and merchant management.
Goyal also informed that, The Cosmos Co-operative Bank has been providing electronic payment services to its customers and also to their sub-member banks in India since year 2005. The Bank is issuing several card products like VISA debit, Classic, Youth, RuPay debit, EMV cards with inbuilt chip along with magnetic stripe.
All these card products are used at Cosmos Bank ATMs as well as other bank ATMs and are also used at multiple merchant outlets for purchase/s using POS terminals. All this is with a vision of Cosmos Bank to stay in tune with the latest global technological development and integrate & incorporate it in the Bank to give its customers the latest and state-of-the-art services and banking solutions. Cosmos Bank has 146 ATMs, and approximated 5 lac card holders.
Cosmos Bank’s fully owned subsidiary, Cosmos eSolutions & Services Pvt. Ltd., is in process of signing strategic partnership agreement with BPC Banking Technologies to provide technical support and develop payment systems products for BPC’s customers, informed Vasant Manwadkar, Managing Director – Cosmos e-Solutions and Services Pvt. Ltd.
Manwadkar also informed that BPC has started a support centre in Pune to provide technical support for their customers in India and the neighbouring countries. Cosmos e-Solutions is also going to provide ATM switching, Access Control System (ACS), Fraud monitoring and bio-metric authentication services to other banks using BPC products.
Cosmos Bank is the leading co-operative Bank offering wide range of banking products to its more than 20 lac customers through its 140 branches in 7 States of India.
