Diebold, Incorporated (NYSE: DBD) today announced it has been selected by PNC Bank, a member of The PNC Financial Services Group (NYSE: PNC), as the bank's single source vendor to upgrade hundreds of ATMs and to add new machines in 2007.
The new, replaced and upgraded ATMs will feature the fifth generation of Diebold's Intelligent Depository Module (IDM) technology, which will allow PNC customers to enjoy the accuracy, convenience and confidence of making check deposits at the ATM without the use of an envelope.
IDM is a utility that allows checks to be deposited directly into the ATM, providing the customer with an image of the check on the receipt and the screen.
These enhancements are part of a multimillion-dollar investment by PNC during the next two years to improve the advanced functionality of its ATM network and further help its customers to bank with ease and confidence to achieve their financial goals. The upgrades were completed in 2006.
"When PNC was looking to choose a single ATM vendor, Diebold was a natural choice for us," said James S. Walker, senior vice president at PNC Bank. "We have a long-term relationship and, for many years, Diebold has assisted us in developing new technology to better serve our customers."
PNC Bank is a leader in deploying advanced technologies through its ATM network. In 1974, the bank introduced 24-hour banking to customers with a "Day and Night Banking" program. In 1992, PNC again led the industry with the installation of Diebold's first ATMs that featured IDM technology that displayed an image of a deposited check on the ATM screen.
"We're proud of our relationship with PNC," said David Bucci, senior vice president of Diebold's Customer Business Solutions. "We've perfected check- imaging technology and continue to provide the industry's best-in-class self- service hardware, software and service solutions. We've also worked with the bank to push the technological envelope. It's great to have a customer so committed to new technology because it allows us to grow our capabilities as well. The market can be slow to adopt new technology, but for years PNC's customers have benefited from the bank's forward-thinking strategy concerning technology solutions."