Retail banking consumers in a number of developed cities along the eastern coast of China will soon have the luxury of using some of the world's most advanced automated teller machines (ATMs) now that a multi-million-dollar agreement between Diebold (NYSE:DBD) and Bank of China (BOC) has been finalized.
The bank has purchased 642 Opteva ATMs, which are powered by Diebold's Agilis software.
"Bank of China has a long and celebrated history, and is considered one of the best commercial institutions in the country," said Daniel Hu, managing director of Diebold Greater China Area. "BOC's deployment of Opteva ATMs will enhance the bank's brand image and expand its customer base by setting higher standards in the province for advanced technology, superior products and enhanced services. We are particularly honored to be selected as its major ATM supplier, and I'm certain Diebold's Opteva ATMs, Agilis software and Diebold Premier Services will help the bank establish maximum return on its investment."
A proliferation of economic development in the region, coupled with the fiercely competitive economic environment of China's coastal cities, makes the area an ideal market for new business opportunities. As a global leader of self-service solutions, Diebold provides Bank of China with tailored solutions that will enable it to optimize branch resources while simultaneously enhancing revenue, operations and brand image.
Under the present guidance of the State Council and China's Banking Regulatory Commission, BOC is undergoing an aggressive and resolute reform to raise the efficiency and profitability of its bank branches. The bank aims to transfer about 40 percent of its traditional teller transactions to its self- service delivery channel by 2008, while increasing surcharge revenue through self-service transactions.