This application helps banks implement RBI guidelines on OTC lock activation to ensure the mitigation of risks during ATM operations and enhancing security, the company said.

ALGO OTC is a fully automated, artificial intelligence powered and mobility-based ATM security software application. The software is equipped with geo fencing and GPS-enabled user face recognition which helps in reducing risks and fraud during cash replenishment cycle at ATMs across India. Integrated with maker–checker approval, ALGO OTC can be used by any bank or vault for cash replenishment, FLM, SLM and vault-related activities.

The company plans to further implement the software application ALGO OTC to existing 15,000 ATMs of the largest bank in India in CY2023.

Manjunath Rao, president – managed services, CMS Info Systems, said: “We look forward to introducing ALGO OTC as a software solution to all national and regional banks and assist them in securing their ATMs operations cycle.

This AI-enabled ID verification software is a fully automated OTC and can be generated with or without Internet connectivity along with a compliant audit trail for future verification with a backend reporting portal for real-time updates on usage.”

This AI-enabled ID verification software is a fully automated OTC and can be generated with or without Internet connectivity along with a compliant audit trail for future verification with a backend reporting portal for real-time updates on usage.

The company reported 25.8% rise in consolidated net profit to Rs 75.78 crore in Q3 FY23 from Rs 60.24 crore in Q3 FY22. reported 25.8% rise in consolidated net profit to Rs 75.78 crore in Q3 FY23 from Rs 60.24 crore in Q3 FY22.