Proactive alerts to bank customers for using ATMs of their own bank

Below is an idea for developing a location-based mobile app.

In India, RBI allows customer of any bank to use ATM of any other bank to withdraw money, check balance, get a small statement of account etc. Banks are supposed to settle the transactions between them and pay each other some fee when their customer uses ATM of another bank (similar to telecom companies paying landing charges). So, banks incur a cost when their customer uses ATM of another bank, which they recover from the customer as transaction fee (free up to 5 transactions from ATMs of another bank).

The proposed solution would detect if a customer of a bank is standing within 5 meters (configurable) of an ATM of another bank and would proactively send SMS to the customer with address of the nearest ATM of the bank where the customer has an account. This way, a bank may save money by informing their customers about their nearest ATM when a customer is likely to use ATM of another bank.

The bank using the solution would provide data about their ATMs and ATMs of competitors too. There are some independent data vendors who may provide this data about ATMs. We need to use location of customer’s mobile phone to check the distance from the nearest ATM and send an SMS with address of the nearest ATM of her home-bank.

Thank you for reading. Shall appreciate your thoughts.
Location: Nagpur, Maharashtra, India

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