Vortex Engineering

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Vortex Engineering
Founded 2001
Headquarters No 6B, 6th Floor, IIT Madras Research Park, Chennai, India
Area served Financial Institutions and banks
Key people L. Kannan, Founder-CTO;
Products ATMs, Cash Acceptors
Services ATM Managed Services
Employees 201-500
Website vortexindia

Vortex Engineering is an India-based company making self-service transaction systems (such as ATMs) for banks. Vortex also offers services for ATM Management.

Vortex ATMs are also now used in several countries outside India, especially in Asia & Africa. Vortex is backed by investors: Tata Capital, Aavishkaar, Ventureast, Oasis and IFC (A World Bank subsidiary).

History[edit]

Vortex was founded by an IIT Madras alumni, L.Kannan in 2001. Around 2004-05, they ventured into ATMs. Their first pilot deployment was for disbursal of NREGA wages through their ATMs in Tamil Nadu, in association with IIT Madras in 2008.[1]

They made their first major break though with the winning of an order for 545 ATMs including 300 solar powered ATMs from the State Bank of India.[2][3][4] Vortex ATMs are now currently used in almost all states of India.

Products & Services[edit]

Vortex has specifically designed ATMs that could operate(up-to 50-degree-Celsius) at any conditions in the world. The ATMs manufactured by Vortex consumes very less power and constitutes very less mechanical and electrical parts as compared to other conventional ATMs. [5] All the Vortex ATMs come with solar power options for greater availability in areas having severe power shortage, whereas no other ATM is commercially viable to be operated with solar power due to its higher power consumption..[6]

The ATM portfolio of Vortex comprises

Cash Dispensers:

Gramateller Duo is the best ATM option available in the market for hassle free installation in non-metropolitan urban and semi urban locations. The small footprint, built-in backup, and not requiring air-conditioning lowers the total cost of installation of ATMs considerably. Gramateller Duo® can also be easily deployed using Solar Power, in regions facing acute power shortage.

Ecoteller - Low cost ATM and consumes very less power

Ecoteller is an innovative ATM which is indigenously designed and built in India and can operate at any conditions in the world. It helps the banks to reach out anywhere(Rural, semi-urban & urban) and also makes it a profitable initiative due to its lower power consumption. Additionally, Vortex provides related software to help banks run ATM services.

Cash Acceptors : The cash acceptor is introduced for those banks who find it difficult to manage long queues and aims at reducing time and the effort of the customer as one does not have to fill deposit slips to credit the money into one's account, resulting in the most automated banking concept at a very low cost.

The Vortex range of Cash Acceptors is part of the FiSST family that enables depositing of cash anytime, anywhere, with the money instantly credited in the depositor's account.

The cash acceptor is introduced for those banks who find it difficult to manage long queues and aims at reducing time and the effort of the customer as one does not have to fill deposit slips to credit the money into one's account, resulting in the most automated banking concept at a very low cost.

Bunch note Acceptor is another addition in the Vortex range of Cash Acceptors among Vortex FiSST family that enables cash transaction, anytime, anywhere. The Bunch note acceptors are developed for both indoor and outdoor installations with a very compact foot print.

The Safe, secure and user-friendly design with reliable bank note recognition makes Vortex BNAs, an innovative and unmatched offering in the country.

The suite consists of following modules

Software[edit]

Vortex Ecoteller is the only Automated teller machine operates on Linux platform,which is faster, safer, secure,stable and provides better hardware support.

Awards & Recognition[edit]

The company has been selected as one among the 10 start-ups that will change your life by TIME magazine. Vortex has won the following recognitions - Srijan Award 2009 for Technology Innovation in Financial Inclusion, Finalist for The Wall Street Journal Asian Innovation Awards 2010,[7][8] one of Technology Pioneers 2011 by the World Economic Forum.[9] Vortex has also been selected to join the Business Call to Action (BCtA) global initiative,[10] which encourages private sector efforts to develop inclusive business models that can have both commercial success and a positive impact in development. Recently Vortex has been awarded with Frost & Sullivan-Technology Innovation Award-2012 for Solar Powered ATM. Vortex ATMs have been pioneered as the first ATMs to be used for transparent last mile delivery of government welfare schemes like MGNREGA. [11][12] Vortex Engineering and their founders featured in amazing Indians on times now [13]

References[edit]

External links[edit]