Avio Smart Market Stack (ASMS) (formerly known as Bartronics India) has received a purchase order from Indian Overseas Bank for the implementation of Corporate Business Correspondent (CBC) services under the Bank's Financial Inclusion Technology initiative.
The order has been awarded pursuant to ASMS' participation in the Bank's RFP process and covers engagement, deployment, and management of Business Correspondent Agents (BCAs), along with cash handling and field-level service delivery. The contract is valid for an initial period of three years, with provision for extension based on performance and at the discretion of the Bank.
Under the mandate, ASMS will undertake end-to-end responsibility for onboarding, training, and monitoring of BCAs, along with ensuring compliance driven and secure delivery of banking services across rural and semi-urban locations. The deployment will be supported by technology infrastructure including micro-ATMs, biometric authentication devices, and integration with the Bank's financial inclusion systems.