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Muthoot Finance launches white-label ATM in Kochi

07 Mar 2014 Evaluate

Muthoot Finance has unveiled its first white-label ATM in Kochi and is planning to open 9,000 such machines in the next three years. The Muthoot group company has partnered with FIS Payment Solutions & Services India, which will act as the technical partner for the project and Federal Bank, which is the sponsor bank for this venture.

A white-label ATM is similar to a normal bank ATM with facilities of cash withdrawal and balance enquiry.

Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.

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