It has been reported that many private banks are opting for the white Label ATMs. In order to expand their ATM network while keeping the cost low, banks are opting for WLAs instead of their own ATMs.
Catholic Syrian Bank with the aim of expanding its network has decided to go for the WLAs. The bank is having very few ATMs. The ATMs of the banks are half of the number of branches of the banks. Yes Bank is also planning to go for the same. The head-retail marketing & product management at Catholic Syrian Bank stated that they are looking for a vendor who can set up the ATMs, capitalise it and work on it on suitable basis. The TATA communications Payment Solution reported that earlier the WLAs were not encouraged much but now the banks are supporting the idea WLAs. TATA communications has got the sponsorship from AXIS and federal bank, and soon will have four more bank sponsors.
The Reserve Bank of India had given an in-principle approval to WLAs in mid-2013, the roll out of these ATMs has been in the slow lane so far.