IT major HCL Infosystems on Wednesday announced that the company has bagged an order worth of over Rs 40 crore from the country largest lender, State Bank of India and its associate banks for deploying, maintaining and servicing the advanced HCL-Hyosung Automated Teller Machines of the bank.
The IT collaborator has extensive experience in the domain and product know-how in ATMs and related applications.
Under the agreed terms, the technology partner will deploy over 1,000 ATMs and cash dispensers for SBI and its associate banks, with enhanced support features such as Braille and multi-lingual content, HCL Infosystems said in a statement.
Commenting on the move, J V Ramamurthy, Chief Operating Officer, HCL Infosystems, said, "We have been focusing on providing innovative banking and finance solutions for the Indian market...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."
The company also plans to introduce rural ATMs to help the banks in increased financial inclusion initiatives.
The estimated number of ATM installations in the country is just over 40,000. The number of ATMs per million people is as low as 33 units. It is expected that the demand for ATMs in India is expected to grow at 18% by 2013.
HCL Infosystems Ltd, offer a wide range of information and communication technology (ICT) products and solutions. Its desktops are the largest selling brand in the enterprise space. The company has expertise across various verticals like telecom, BFSI, e-Governance & power. It offers several product in association with leading global brands like Apple, Ericsson, Kingston, Kodak, Microsoft, Nokia, Toshiba, to name a few. HCL has lied up with Korean major Nautilus Hyosung to provide ATM solutions to banks in India.