India’s largest ATM and cash management company, CMS Infosystems, is betting big on artificial intelligence and expects the segment to contribute 10% of overall revenues by FY27. The company reported revenue of Rs 627 crore in the June quarter.
Within its Managed Services & Technology Solutions vertical, CMS has developed HAWKAI, an AI-led remote monitoring solution. From a standing start, HAWKAI generated revenues of over Rs 100 crore in FY25 and now monitors more than 30,000 ATM sites—a 10X increase in coverage. The remote monitoring market in the BFSI segment alone is estimated to be a Rs 2,000 crore opportunity.
To accelerate this growth, CMS last month signed a binding agreement to acquire 100% of Securens Systems, India’s fourth-largest AIoT remote monitoring player. The acquisition will expand CMS’s AI monitoring footprint to 45,000 ATM sites, giving it a 36% share of the BFSI remote monitoring market.
“Once this deal closes, we will reach 45,000 sites, which on our own we would have taken another year and a half to reach,” said Rajiv Kaul, CEO, CMS Infosystems. “We will cross the 10% revenue number next financial year. Over a period, we expect it to contribute 15–20% of our total business.”
CMS has invested Rs 150 crore in its AI business over the past three years and expects HAWKAI to grow at a CAGR of 30–40%, doubling revenues in the next two years. While the initial focus has been on banking, CMS is now extending HAWKAI to adjacent BFSI segments such as NBFCs, gold loan companies, and insurers, as well as new verticals including retail, warehouses, telecom, EV infrastructure, and logistics.
“Vision AI fundamentally solves for a very important but narrow niche,” Kaul explained. “A bank’s customer can transact safely at an ATM site at a lower cost. It also helps banks gain virtual analytics of the entire channel. The software reduces the risk of incidents, protects cash and machines, enables energy management, and provides deep data analytics of consumer behavior.”
Looking ahead, CMS’s M&A focus spans B2B payments, software, valuable logistics, and last-mile financial services.
Within its Managed Services & Technology Solutions vertical, CMS has developed HAWKAI, an AI-led remote monitoring solution. From a standing start, HAWKAI generated revenues of over Rs 100 crore in FY25 and now monitors more than 30,000 ATM sites—a 10X increase in coverage. The remote monitoring market in the BFSI segment alone is estimated to be a Rs 2,000 crore opportunity.
To accelerate this growth, CMS last month signed a binding agreement to acquire 100% of Securens Systems, India’s fourth-largest AIoT remote monitoring player. The acquisition will expand CMS’s AI monitoring footprint to 45,000 ATM sites, giving it a 36% share of the BFSI remote monitoring market.
“Once this deal closes, we will reach 45,000 sites, which on our own we would have taken another year and a half to reach,” said Rajiv Kaul, CEO, CMS Infosystems. “We will cross the 10% revenue number next financial year. Over a period, we expect it to contribute 15–20% of our total business.”
CMS has invested Rs 150 crore in its AI business over the past three years and expects HAWKAI to grow at a CAGR of 30–40%, doubling revenues in the next two years. While the initial focus has been on banking, CMS is now extending HAWKAI to adjacent BFSI segments such as NBFCs, gold loan companies, and insurers, as well as new verticals including retail, warehouses, telecom, EV infrastructure, and logistics.
“Vision AI fundamentally solves for a very important but narrow niche,” Kaul explained. “A bank’s customer can transact safely at an ATM site at a lower cost. It also helps banks gain virtual analytics of the entire channel. The software reduces the risk of incidents, protects cash and machines, enables energy management, and provides deep data analytics of consumer behavior.”
Looking ahead, CMS’s M&A focus spans B2B payments, software, valuable logistics, and last-mile financial services.
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