AGS Transact Technologies Ltd’s SVIL Establishes State-of-the-Art Cash Vault in Bengaluru

On June 13, 2024, AGS Transact Technologies Limited informed in a stock exchange filing that the company’s wholly-owned subsidiary, Securevalue India Ltd (SVIL), has established a new cash vault facility in Bengaluru, Karnataka. This state-of-the-art facility will provide world-class cash processing and vault services, and it is expected to improve the company’s cash management operations across Karnataka further.

SVIL’s latest cash vault facility spans 14,000 square feet and boasts state-of-the-art security measures. These include round-the-clock CCTV surveillance, intrusion detection with motion sensors, interlocking mechanisms, fire alarm systems, and advanced access control systems, ensuring utmost security for the stored cash.

Securevalue India Limited is the second-largest cash management company in India. As of March 31, 2024, SVIL services 38,418 ATMs/CRMs across more than 1,800 locations in India and has an expansive infrastructure of 47 vaults, over 400 spoke locations, and over 2,370 secure cash vans.

Speaking of this development, the Managing Director of Securevalue India Limited, Shailesh Shetty, said, “The new state-of-the-art cash vault facility in Bengaluru is significant for the cash management operations at Securevalue India. Our focus is on optimising route operations and other processes to maximise growth, revenue, and profit margins. This facility will enable us to provide best-in-class cash-in-transit services with higher operational efficiency and security. Furthermore, its strategic location will offer us a competitive advantage.”

About AGS Transact Technologies Ltd 

AGS Transact Technologies Ltd is a provider of integrated omni-channel payment solutions in India, catering to banks and corporate clients with digital and cash-based offerings. Its tailored portfolio includes ATM and CRM outsourcing, cash management, digital payment solutions like merchant services, transaction processing, and mobile wallets. The company operates through three main business divisions: Banking Automation Solutions, Payment Solutions and Other Automation Solutions.

On June 13, 2024, the share price of AGS Transact Technologies Ltd opened at ₹80.10, touching the day’s high at ₹83.00, as of 10:46 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.