NCR has struck two automated teller machine (ATM) and maintenance services deals with State Bank of India (SBI) and ICICI Bank, valued in total at $10 million.
SBI and ICICI are the two largest banks in India and both are expanding rapidly in the financial self-service market. Each of these banks now have an installed base of over 1000 ATMs and have announced plans to double that figure by March 2003.
In addition to providing over 600 ATMs, NCR is providing maintenance services for these units.
Keith Taylor, senior vice president of NCR's Financial Solutions division, comments: "We identified India as a key market some time ago and invested while the market was in the early stages of development...We are experiencing rapid growth in demand for financial self-service hardware and service support, and are continuing to invest heavily in this market."