New Delhi: HDFC Bank is in the process of making the personal loan approval automated, and the task will be done by none other than the Automated Teller Machines( ATM).


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According to The Times of India report, the bank has deployed an analytics engine that tracks the customer's history and the credit score provided by credit information bureau, and depending on the credit history authorizes a loan.


Currently the service is available on the Banks portal, but would be extended to the ATMs soon. According to the report, the automated personal loans have been a huge success with over 12% of the bank's personal loans coming from this route. 


The spot loans will be available to the existing customers of HDFC Bank, where the customer will not only be able to see the offer on ATMs but will also be able to get the personal loan in just a few clicks. The bank will initially launch the loan-on-ATM product for those with salary accounts and corporate customers. 


HDFC Bank has 11,907 ATMs in the country and 2.27 crore customers with debit cards who use them in ATMs in 3.4 crore transactions every month. The ATMs are the biggest touch point for the banks and most of the customer engagement takes place at the ATM kiosk in the physical world.