Market in China smelling New ATM Technology

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Diebold, Incorporated (NYSE: DBD) announced it has received its largest order for Opteva advanced- function automated teller machines (ATMs) from China's largest state-owned commercial bank, Industrial and Commercial Bank of China (ICBC). The $25 million deal includes more than 1,100 Opteva(R) self-service terminals driven by Agilis Power(R), a tailored solution used to develop ATM software applications. The balance of the order includes more than 100 Bulk Cash Recycling Machines (BCRMs).

The deal is the largest order for Diebold's Opteva ATMs in China, solidifying Diebold as the leading provider of ATMs for ICBC. Opteva ATMs will help ICBC strategically accelerate the reconstruction of its retail delivery channel.

With its countrywide network of 27,000 branches, ICBC provides routine banking transactions, in addition to other customer-friendly services like pension plans and bill payments, to millions of customers in urban and rural areas of China. As a result, ICBC has developed a solid reputation among customers as a "neighborhood bank. In an effort to pursue additional profits in the high-end market, ICBC is improving efficiency and reducing the cost of its services to the majority of Chinese customers, a strategic move designed to free up resources to devote to high-end customers. (Similar to SBI in India ?? but, I never say the same for SBI :>))

To achieve its business goals, ICBC took aggressive steps to reform its service delivery channels. Over the past several years, ICBC actively sought to expand its ATM network to transfer more traditional banking services to the self-service environment. ICBC selected Opteva ATMs and Agilis software not only for their reliability, but also for Diebold's unparalleled, comprehensive service solutions.

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Developed in response to the changing needs of financial institutions and consumers, Opteva ATMs provide a complete range of exclusive benefits to the global financial industry. Agilis Power custom applications are unique, customer-specific solutions built by Diebold using a collection of robust, flexible software components. Diebold self-service experts use Agilis Power to build customized terminal software that meets customers' unique needs. The result is flexibility, unique functionality and upgradability.

"Our Opteva ATMs are a series of extraordinary products that coincide with an integrated series of services," said James L.M. Chen, corporate vice president of Asia Pacific for Diebold. "We have launched an entirely new service process for Opteva customers that will increase ATM availability and reduce the total cost of ownership while advancing the bank's brand image. China is an exciting market with excellent growth opportunity moving forward.