Source: Oki Electric Industry Company
Oki Electric Industry Company Limited (TOKYO:6703) and Fujitsu Limited (TOKYO:6702) today announced their collaboration in developing next-generation ATM (Automated Teller Machine) software.
The companies have completed development of a prototype of the software using a Web-based architecture. The product will be released in Japan during fiscal 2008, beginning next April, and the companies plan to sign up 200 customers over the initial three-year period.
"We are excited to collaborate with Fujitsu, an IT industry leader with a strong track record in the ATM market. This partnership between the two top ATM vendors in Japan will accelerate the development of next-generation ATM software offering a wealth of services, and thus deliver truly user-friendly ATMs," said Yoichi Kawashima, President of Systems Hardware Company at Oki Electric Industry. "This collaboration is part of OKI's business strategy to further enhance its ATM business based on our mid-term business plan."
Envisioning ATMs for a ubiquitous network society, OKI and Fujitsu have incorporated into the next-generation ATM software a host of new functions that will enable the timely provision of next-generation services to ATM users. The companies aim to create a new industry standard for ATM application software, in which services can be rolled out industry-wide at low cost, replacing the conventional system in which each financial institution developed application software separately. A key feature of the next-generation ATM software is its revolutionary fee structure, which charges per transaction in order to reduce financial institutions' initial software development costs as well as streamline asset management operations. In addition, it will be managed on a central server, thus enabling financial institutions to easily change and add software as well as bolster internal controls and security by managing transaction data centrally.
With the basic functionality of this software completed, OKI and Fujitsu have begun testing by installing the software on their latest ATM terminals, BankIT and FACT-V, respectively. Further development will be accompanied by initiatives to establish the software as an industry standard, beginning with the release of a shared application interface free of charge and an invitation to other vendors to create industry-wide specifications.
Based on their advanced technologies and long years of industry experience, OKI and Fujitsu aim to provide optimal ATM solutions to users and financial institutions.