In an effort to continue expanding its automated teller machine (ATM) network, Banco Santander has signed an agreement with Diebold, Incorporated (NYSE:DBD) for the manufacture, delivery and installation of approximately 2,000 new cash dispensers throughout Brazil.
The cash dispensers, part of Diebold Brazil's existing ATM 4500 family, were developed specifically for the Brazilian market and are available only in Brazil.
"This new agreement demonstrates the strength of our partnership with Banco Santander," said Joao Abud, Jr., president, Diebold Brazil. "The choice of technology suppliers is always a strategic decision for financial institutions and we are proud to be selected to participate in Santander's expanding business. It is confirmation of the quality of solutions and services offered by Diebold."
Banco Santander's evaluation and certification process of suppliers is rigorous and is done through tests performed by different areas of the bank, such as production, infrastructure and security, coordinated by Produban, a company owned by Santander Group. With presence in Brazil for 29 years, Santander is Brazil's third largest private bank by total assets, and has more than nine million active accounts. The bank provides a commercial network with broad geographic coverage, supported by more than 3,700 bank branches, in-store mini branches and 18,300 ATMs within the network.
According to a September 2011 Retail Banking Research report, Brazil is the largest ATM market in Latin America, accounting for approximately 60 percent of the ATMs in the region. For more than a decade, Diebold Brazil has been the leading financial self-service provider in the country.
The company was recently named the best information technology (IT) company in the "digital industry" segment by Brazil's Exame Magazine in its 38th edition of "The Biggest and the Best." This is the fourth time the company has been recognized as the best IT provider in the country by Exame magazine.