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Published on Oct 11, 2013
Founder & CTO of Vortex Engineering Pvt. Ltd, Kannan Lakshminarayan in an interview to Govindraj Ethiraj says, "It's not that we went out trying to compete with the Multinationals, we were trying to address the problems of financial inclusions, context to where 80% of the people in rural India are not having a bank account and when we looked at what is it that we can do to bring them within the fold because they obviously need so many financial services, it appeared that you need a solution that makes it profitable for the bank to deliver those services, and when we looked at the different challenges that a bank would typically face, we recognised that an ATM machine is the way to go but a conventional ATM will not suit such a context for a number of technical reasons so we drew a wish list of what should an ATM for these people be like and then went about building it"