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HCL to deploy 1000 ATMs for SBI in 
40 Crore deal
By siliconindia
|
Wednesday, 05 August 2009, 00:13 IST
Bangalore: HCL Infosystem has bagged an order of over 
40 crores from State Bank of India (SBI) and associated banks to install, maintain and service Automated Teller Machines (ATMs) in various parts of India. HCL will deploy over 1000 ATMs and cash dispensers across the country. "We have been focusing on providing innovative banking and finance solutions for the Indian market. This order from SBI is once again a recognition of our reach and capability to rollout and support technology solutions across the country. Given the potential of this sector, we are sure that with our ATM solutions we will be able to raise the bar for the banking and financial solutions in India", said J.V. Ramamurthy, Chief Operating Officer, HCL Infosystems.
This is a first of its kind order for HCL Infosystems since its tie-up with Korean major Nautilus Hyosung, to provide complete ATM solutions for banks across the country. The HCL-Hyosung range of ATM's offers products that have been customized to the various requirements of the Indian Market.
India being an emerging market has high growth rate and size. The total number of ATM's per million people in India is approximately 33 units as compared to Korea which is 1,920 units. Experts forecast that the growth rate (CAGR) is expected to grow at 18 percent by 2013. With just over 40,000 ATMs in India, a country with a population of over 1.2 billion, there is a demand for ATM banking services across India.
HCL also plans to introduce rural ATMs, meant for deployment by banks in locations with relatively low transaction volumes and also help in the Financial Inclusion initiatives of banks. This solution will be an ideal vehicle to offer cost-effective ATM convenience to the largely untapped rural areas taking the power of banking to every Indian.
40 crores from State Bank of India (SBI) and associated banks to install, maintain and service Automated Teller Machines (ATMs) in various parts of India. HCL will deploy over 1000 ATMs and cash dispensers across the country. "We have been focusing on providing innovative banking and finance solutions for the Indian market. This order from SBI is once again a recognition of our reach and capability to rollout and support technology solutions across the country. Given the potential of this sector, we are sure that with our ATM solutions we will be able to raise the bar for the banking and financial solutions in India", said J.V. Ramamurthy, Chief Operating Officer, HCL Infosystems.
This is a first of its kind order for HCL Infosystems since its tie-up with Korean major Nautilus Hyosung, to provide complete ATM solutions for banks across the country. The HCL-Hyosung range of ATM's offers products that have been customized to the various requirements of the Indian Market.
India being an emerging market has high growth rate and size. The total number of ATM's per million people in India is approximately 33 units as compared to Korea which is 1,920 units. Experts forecast that the growth rate (CAGR) is expected to grow at 18 percent by 2013. With just over 40,000 ATMs in India, a country with a population of over 1.2 billion, there is a demand for ATM banking services across India.
HCL also plans to introduce rural ATMs, meant for deployment by banks in locations with relatively low transaction volumes and also help in the Financial Inclusion initiatives of banks. This solution will be an ideal vehicle to offer cost-effective ATM convenience to the largely untapped rural areas taking the power of banking to every Indian.
