Vortex Engineering( http://www.vortexindia.co.in ) is a company founded in collaboration with Indian Institute of Technology, Madras & TeNeT group of IIT-Madras.Vortex is now slowly changing the face of banking with its new low power, rugged and reliable, low cost ATMs ( Automatic Teller Machines ) .Vortex has been funded by early stage investors like the Oasis Fund, Aavishkaar and Ventureast.
Features of Vortex ATM’s
Vortex ATM’s are designed from the ground up for the semi urban/ rural ATM requirements. These areas are mostly under-served for their banking needs, mainly because of viability reasons.
Vortex ATMs effectively address the concerns about high initial as well as running costs of ATMs, especially with low number of transactions per day. Additionally, its fingerprint authentication capability eliminates the limitations of PIN based authentication in serving first time customers.
Vortex ATMs incorporate many innovative and patented techniques that enable it to offer a low-cost, rugged and reliable, low-power product .
The key highlights of Vortex’s Automatic Teller Machines are:
Can operate under power fluctuations and power failures—has built-in battery back-up for up to 4 hours. No need for additional UPS.
Consumes very little power – can be viably run on solar power.
Does not need air-conditioning. Can operate from 0°C to 50°C.
Very easy to use, even for users unfamiliar with tech devices—provides biometric authentication
Low cost—suitable even for small towns and rural areas or in low footfall contexts
Unique & patent pending “Gravity Assisted Friction Feed” technique for reliable cash dispense
Very low operating expenses – low power consumption & communication costs
Patented “Sheet Separation Apparatus” technology to dispense even soiled notes
Electronic journal – saves paper
Very compact – uses less space