Page 41 - Banking Finance June 2017

INTERVIEW

In the fast-moving digital payment domain, EPS intends to launched to address the demand for efficient, secure and
be an end-to-end Technology Solutions Provider for banks. technology driven products and services for the banking
industry. The disruptivebusiness modelhas been adopted by
What is your USP and what differentiates you various PSU banks in India, since inception in 2011 and is
from your competitors expected to scale large volumes with private banks. This is
EPS was launched to cater to mostly semi-urban and rural a scalable approach as per the plan of individual banks,
markets in India where there was a huge gap between the without much addition to their existing servers/ electronic
bank and the beneficiary. According to the DBT (Direct fund transfer switch, and no additional cost to banks, hence
Benefit Transfer), a social benefit is explained as the offering making it seamless.
to the unbanked / underbanked, where money is transferred This brought in a lot many challenges, wherein deployment
of ATM at remote and rural areas faced
“ EPS was launched to cater to mostly semi-urban electricity and connectivity issues. This drove
and rural markets in India where there was a huge EPS to install extra solar powered systems for
ATMs to stay up and running thus enabling
gap between the bank and the beneficiary. banks to reach to the mass. Major cash
“
depletion in ATMs in rural pockets were
by respective government departments through ATMs, observed, wherein EPS overcame this challenge by enabling
without any middleman or broker for real time credit, saving Cash Replenishment Agencies in these areas with distance
loopholes to the actual beneficiary. of 150 kms from Cash pick up points.ATM/ cash monitoring
Moving away from the existing business model unlike was yet another challenge which was solved by the launch
competitors, thinking innovatively and proposing a win- win of Centralised ATM Managed Services Centre on 24X7X365
business model to customer, leveraged EPS's breakthrough basis.
into innovation space.This enabled EPS tocome out with first The team of specialists and professionals driving EPS have
of its kind ATM transaction based model known as Disruptive pioneered various initiatives in the ATM & Payments
Business Model (Pay per use) which is unique to the world, industry in India i.e. 1st ATM installed in India for HSBC in
that led to higher ATM up time for banks and higher revenue 1987, 1st shared ATM network 'Swadhan' by India Switch
streams.Our attempt was successfully backed by Ministry of Company in 1997, 1st of its kind transaction based ATM
Finance, a mission led under Financial Inclusion for business model for Brown Label ATMs in India, deployed the
deployment of ATMs in urban, semi urban and rural areas 1st live ATM in Mumbai for the Ministry of Finance Project
(a population less than 2000) and Direct Benefit Transfer in July 2012 etc.
scheme of Government of India.
EPS core values include their ability to understand, deliver
The Model came into play for the First time in India, which and determine what their clients need as trust and respect
was not tried anywhere globally, whereas rest of the are an integral part of their teamwork. EPS believe in
Players/ competitors had different models like fixed Monthly developing strong relationships through transparency and
rentals for ATM outsourced Services. fairness in their dealings with clients, and are committed to
EPS revenue model is a Win-Win for customers as well as a high standard of integrity.
the company as more ATM uptime results in more
availability for banks and its customers and results in better What is your focus on Research and Develop-
Revenues, as different from competitors. ment as this may have significant effect in expan-
sion of your business
Building Customer Relationship plays an Going by Innovation, Technology and Performance, the team
important role in your class of
business. What are your efforts “ Going by Innovation, Technology and Performance, the
in this regard? team at EPS delves into Research & Development of
For EPS, our primary customers are various in-house products and services, making it the
banks for whom we offer our wide “
range of services and the company was backbone of EPS’ operations.

BANKING FINANCE | JUNE | 2017 | 41

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