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India bank kiosks issue debit cards and account info instantly

Minnetonka, Minnesota-based Entrust Datacard announced it has launched an integrated issuance kiosk solution in South Asia with State Bank of India that includes EMV chip card personalization application.

December 2, 2014

Minnetonka, Minnesota-based Entrust Datacard announced it has launched an integrated issuance kiosk solution in South Asia with State Bank of India that includes EMV chip card personalization application.

SBI opened its first seven digital kiosks in business districts and shopping centers of Mumbai, New Dehli, Bengalura, Chennai, Kolkata and Ahmedabad, the sbiINTOUCH outlets. The stores appeal to India's millennial generation for their self-service efficiency, according to the announcement.

"India is in the midst of a major demographic transition and we recognize that our customers increasingly expect digital services to help them manage their financial needs," said Arundhati Bhattacharya, chairman of State Bank of India, in a statement. "Today, more than half of India's population is under the age of 25. By 2020, India's average age will be just 29 years – this is a digital demographic: one that expects businesses to provide solutions immediately. At the same time, the mass affluent – no matter what their age – have similar expectations. Indian banks need to provide a strong response to these new demands. These branches are a first step in the journey to offering full digital services across the nation."

"INTOUCH is the start of SBI’s digital journey," said S.K. Mishra, deputy managing director, State Bank of India. "This is our attempt to put our brand SBI in touch with the dreams of the aspirational customer. It is a deep rooted transformation that has three aspects: a transformation of the customer experience we deliver; introduction of device centric technology that is at the forefront of our global peers; and transformation of the behavioral model of our staff-base to be even more customer centric."

SBI's digital outlets utilize self-service kiosks for customers to open accounts, access online banking and obtain fully personalized debit cards instantly, a feature enabled by Entrust Datacard.

"Banking models are evolving and transitioning to meet the needs and requirements of our younger generations," said Rajiv Singh, managing director of Entrust Datacard, South Asia, in the announcement. "The Datacard instant issuance kiosk solution will allow SBI to evolve with the market demands of the massive card growth in India, as well as differentiate themselves by providing a powerful new way to drive revenue and engage customers."

In a separate statement, SBI announced the release of its barcode based passbook printing kiosk named Swayam, launched by SBI Chairman Arundhati Bhattacharya.

Passbooks contain savings and recurring deposit information belonging to banking customers. Swayam allows customers to access self-service passbook printing via barcode technology. SBI will roll out more than 2,500 Swayam branches with round the clock availability.