CMS has launched Artificial Intelligence powered, mobility-based, ATM Security software application, Algo. CMS Algo is an end-to-end security encrypted fool-proof solution to prevent ATM frauds at the time of cash replenishment or maintenance.
RBI Guidelines mandated banks to implement logical and physical security measures in all ATM terminals including Hard-disk encryption, anti-skimming devices, OTC (One Time Combination) enabled safes, and vault locks, whitelisting, black-listing among others.
CMS Algo helps banks to implement RBI guidelines on OTC Lock activation through providing first-time-ever geo-fencing & GPS enabled user face recognition, credential authentication, backend service request compliant; OTC code generation software.
CMS Algo is machine agnostic and can operate on any ATM OEM with any safe / vault lock. The ATM machine could be manufactured by NCR, Diebold-Wincor, Hyosung, or any other and the lock could be from S&G, Kaba MAS Hamilton, Securam, Perto or any other OTC make with one-time integration – Algo can be deployed by banks across the world on their ATMs to become fully compliant to the latest Global norms for ATM safety and security.
Speaking on the launch of CMS Algo, Rajiv Kaul, Executive Vice Chairman, Chief Executive Officer, and Whole-time Director, said, “We are delighted and proud to have developed World’s first Artificial Intelligence automated ATM Security software application.
This application can run on any ATM across the world and helps in fraud prevention. The solution is cost-ineffective in the backend and low cost in the front-end.
The biggest saving is the reduction of fraud, no requirement of a call-center, and restricted access to data and premises. We have deployed Algo on the 52,000 ATMs that we are servicing on behalf of customers in India. Bank of Maharashtra and Catholic Syrian Bank have already subscribed to Algo.
We are in discussions with other Indian and International banks & Cash Replenishment Agencies for the implementation of Algo.”
|Before Algo||After CMS Algo|
|High risk and liability on the bank / CRA (cash replenishment agency)||Reduced fraud and risks|
|OTC for opening locks was given through people sitting in the back-office||Fully automated OTC for opening safes/vaults that are Secure, Simple, Compliant, Intelligent, and Mobility driven.|
|No real authentication at the origin location while accessing OTC code||Full control on access with Geofencing and GPS enabled application.|
User restriction basis lock proximity, time of operations, user location
|The person issuing OTC is not aware of the requirement of OTC requested by the person accessing the ATM safe||AI-enabled, Face recognition, ID verification software|
|No control on permission for a number of access||Only one-time access to authorized personnel|
|Call-center required –|
To be open even out of office hours
Risk of authentication over the phone
Waiting time for generating the OTC with limited call center people
|No call center required – Fully automated|
OTC can be generated with or without Internet connectivity
|No audit trails except requests for OTC noted in the back office||Fully compliant Audit trail for future verification|
Backend reporting portal for real-time updates on usage
|No usage restrictions – OTC can be generated for all ATMs irrespective of real need|
|Integrated with maker – checker approval and Can be used by Bank or Vault for cash replenishment, FLM, SLM, and Vault related activities.|