Vortex Engineering

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Vortex Engineering
Founded2001
Headquarters
No 6B, 6th Floor, IIT Madras Research Park, Chennai
,
India
Area served
Financial Institutions and banks
Key people
L. Kannan, Founder 
                   Sathyan Gopalan, CEO
Gopalakrishnan Srinivasan, Financial Controller
ProductsATMs, Cash Dispenser
ServicesATM Managed Services
Number of employees
201-500

Vortex Engineering is an India-based technology company that makes self-service transaction systems (such as ATMs) for banks, independent ATM operators and other financial institutions. Vortex also offers products and services for ATM Monitoring and Management.

Vortex ATMs are also now used in several countries outside India, especially in Asia & Africa. Vortex is backed by investors: Tata Capital, Aavishkaar, Ventureast, Oasis and IFC (A World Bank subsidiary).

History[]

Vortex was founded by an IIT Madras alumni, L.Kannan in 2001. Around 2004-05, they ventured into ATMs. Their first pilot deployment was for disbursal of NREGA wages through their ATMs in Tamil Nadu, in association with IIT Madras in 2008.[1]

They made their first major break though with the winning of an order for 545 ATMs including 300 solar powered ATMs from the State Bank of India.[2][3][4] Vortex ATMs are now currently used in almost all states of India. The total ATMs deployed across the globe had reached over 8000.

References[]

  1. ^ "Archive News". The Hindu. 23 November 2008. Archived from the original on 11 February 2009. Retrieved 1 December 2016.
  2. ^ "Archive News". The Hindu. 12 March 2010. Archived from the original on 11 April 2010. Retrieved 1 December 2016.
  3. ^ "Vortex set to install 300 solar ATMs in rural SBI branches". Financialexpress.com. 13 March 2010. Retrieved 1 December 2016.
  4. ^ "State Bank of India signs for 300 solar-powered ATMs". Finextra.com. Retrieved 1 December 2016.
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