Syndicate Bank in India has declared the launch of a private blockchain for ATM reconciliation. The bank intends to improvise relationship with its customers by offering them faster and enhanced ATM services.

According to the bank, the private blockchain will incorporate ATMs as blocks where every transaction will be recorded securely to provide efficient services to the users.

Mrutyunjay Mahapatra, MD of Syndicate Bank, has claimed that the platform will provide instant notifications to the account holders for every debit or credit in their bank accounts.

In addition, the bank has also introduced a new technology named as Sales Saathi which geo-tags employees’ tablets and checks their movements. The feature is intended to track the loan defaulters and send warning signals.