Suryoday Small Finance Bank (SSFB) has teamed up with a fintech company called SprintMoney and Hitachi Payment Services. This partnership allows customers to open a Fixed Deposit (FD) using an ATM. The news was announced on Friday, September 11, at the Global Fintech Fest 2026. This is a big step for banks that want to grow their business without building many new physical branches.

The system works through Hitachi’s 'Money Spot' White Label ATMs (ATMs owned and operated by non-banking companies). These machines run on Android technology, which allows them to show more than just a cash withdrawal screen. SprintMoney acts as the bridge that connects the bank’s products to the ATM screen. This means a customer can walk up to an ATM, see the FD rates, and start the booking process immediately.

For bank officers, this means a shift in how we think about 'deposits.' Usually, a customer must come to the branch or use a mobile app to open an FD. Now, the ATM acts as a digital counter. Baskar Babu Ramachandran, the MD and CEO of Suryoday SFB, said this move helps their strategy for financial inclusion (providing banking services to everyone at an affordable cost). It helps the bank reach people who might not be comfortable with mobile apps but are used to using ATMs.

Suryoday Small Finance Bank has been around since 2017 and has 717 banking outlets. They are very active in states like Maharashtra, Tamil Nadu, and Odisha. By using Hitachi’s infrastructure, they can now offer their FD products in many more locations without the high cost of renting office space or hiring more branch staff. This is a very efficient way to collect CASA (Current Account Savings Account) and term deposits.

SprintMoney, the technology partner, plans to add more banks to this platform in the future. This could change the job of a branch manager. If more customers use ATMs for FDs, branch staff can focus on more complex tasks like loans or insurance sales. However, it also means that the competition for deposits will get tougher as different banks might show their offers on the same ATM screen.

For customers, this is all about convenience. They do not have to wait in line at a branch or remember their net-banking passwords. They can just use the ATM they already visit for cash. However, all bookings will still follow the bank’s rules and RBI (Reserve Bank of India) guidelines to ensure the money is safe.

Bankers should watch this space closely. As more white label ATMs get upgraded to Android systems, we might see other services like recurring deposits or insurance being sold at the ATM corner. It is a new era where the ATM is not just a cash machine, but a full digital branch.