NEWS & ADVICE : CREDIT CARDS
SBI banks upon HCL to expand ATM network
By Ankit Sharma
Aug 6, 2009
Print    Email    RSS   

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.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Spoiled credit history? - Get a secured...
Are cash-back credit cards a real good deal?
A chronicle of excesses by loan recovery...
Carnival of Indian Personal Finance Blogs #4
Handle your credit card with care


Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive