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OKI Completes Installations of 600 Cash Recycling ATMs for State Bank of India
MUMBAI and TOKYO, July 29, 2016 /PRNewswire/ --
Delivers Seamless Cash Deposit and Withdrawal Service to SBI and its Customers
OKI [http://www.oki.com/en ] (TOKYO: 6703) today announced the installations of 600
sets of cash recycling ATMs, ATM-Recycler G7, in June 2016, to the State Bank of India
(hereinafter referred to as SBI), the largest bank in India. This marks OKI's second large
project deployment of its cash recycling ATMs for SBI in India.
(Logo:
http://photos.prnewswire.com/prnh/20160729/394092LOGO )
SBI decided to procure OKI's cash recycling ATMs in 2015 and deploy them in four of
its designated regions across India. This project follows earlier deployments by OKI that
provided an opportunity to thoroughly evaluate the performance of OKI's robust cash
recycling technology vis-a-vis the Indian currency environment. OKI has been serving the
Indian market since 2013 and its ATMs are deployed for other government-owned banks,
private and co-operative banks as well.
The last two years have witnessed many public and private banks deploying cash
recycling ATMs to efficiently manage customer cash deposits and withdrawals through the
same machine. The initial response saw migration of cash deposits from teller counters to
these advanced ATMs, significantly reducing teller operations and automating the cash
deposit process. After sustained trial and verification of technological stability, Indian
banks decided to deploy these ATMs outside the branches to provide around the clock
services.
"India is an important market for OKI and completing this project with SBI within
expected timelines is a significant achievement for us," says Rupinder Sandhu Anand, CEO
of OKI India Private Limited, an ATM sales company in India. "OKI plans to build on this
program experience and participate in bids for larger opportunities with SBI and other
banks."
In India, installation of ATMs and cash dispensers (CDs) reached 220,000 units in 2015,
making it the second largest market in Asia, following China. The number is expected to
continue expanding to 500,000 units by 2020 against the backdrop of economic growth.
Committed to utmost customer satisfaction, SBI is enhancing services and customer
convenience through various channels including the Internet and mobile to reach out to its
large customer base. Convenient banking services and efficient bank operations are key to
enhancing customer satisfaction and cash recycling ATMs are an important channel to
deliver valuable services for banks. The reliability and capacity of the ATM-Recycler G7,
was a big driver for SBI to consider deploying them in high transacting sites. While
reducing cash handling costs is a primary driver for deploying cash recyclers, the
enablement of interbank deposit transactions is another significant driver for banks to
move to cash recycling ATMs.
Designed as a strategic model for the global market, OKI's ATM-Recycler G7 has gained
a strong track record and has established itself in the burgeoning cash economy that is
India. A single ATM-Recycler G7 can handle Rs.50, Rs.100, Rs.500 and Rs.1000 denominations
and uses the deposited banknotes for withdrawals, leveraging its cash-recycling function
to reduce banknote management and operational costs compared to cash dispensers and
non-cash-recycling ATMs.
About State Bank of India (SBI
State Bank of India (SBI), with a 200 year history, is the largest commercial bank in
India in terms of assets, deposits, profits, branches, customers and employees. The
Government of India is the single largest shareholder with 61.58% ownership. It has assets
of INR 2,048,080 crores and 16,333 branches, including 191 foreign offices spread across
36 countries, making it the largest banking and financial services company in India by
assets.
About OKI Electric Industry (OKI)
Founded in 1881, OKI Electric Industry is Japan's leading telecommunications
manufacturer in the Info-telecom field. Headquartered in Tokyo, Japan, OKI provides
top-quality products, technologies, and solutions to customers through its info-telecom
systems and printer operations. Its various business divisions function synergistically to
bring to market exciting new products and technologies that meet a wide range of customer
needs in various sectors.
For more information, visit OKI's global website at http://www.oki.com
Note:The names of the companies and products mentioned in this document are the
trademarks or registered trademarks of the respective companies and organizations.
Press contact:
Mayuko Noto
OKI Public Relations Division
Phone: +81-3-3501-3835
Email: press@oki.com
Customer contact:
Global Strategic Planning Department
OKI Mechatronics Systems Business Division
Phone: +81-27-325-1111
Inquiry form: https://www.oki.com/cgi-bin/inquiryForm.cgi?p1e
[https://www.oki.com/cgi-bin/inquiryForm.cgi?p1e ]
Media Contact:
Rupinder Sandhu Anand
rupinder576@oki.com
+91-9820214055
Chief Executive Officer
OKI India Pvt Ltd
Photo:
http://photos.prnewswire.com/prnh/20160729/394092LOGO
Photo:http://photos.prnewswire.com/prnh/20160729/394092LOGO
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20160729/394092LOGO
http://photoarchive.ap.org/
OKI India Pvt Ltd.
OKI Completes Installations of 600 Cash Recycling ATMs for State Bank of India
MUMBAI and TOKYO, July 29, 2016 /PRNewswire/ --
Delivers Seamless Cash Deposit and Withdrawal Service to SBI and its Customers
OKI [http://www.oki.com/en ] (TOKYO: 6703) today announced the installations of 600
sets of cash recycling ATMs, ATM-Recycler G7, in June 2016, to the State Bank of India
(hereinafter referred to as SBI), the largest bank in India. This marks OKI's second large
project deployment of its cash recycling ATMs for SBI in India.
(Logo:
http://photos.prnewswire.com/prnh/20160729/394092LOGO )
SBI decided to procure OKI's cash recycling ATMs in 2015 and deploy them in four of
its designated regions across India. This project follows earlier deployments by OKI that
provided an opportunity to thoroughly evaluate the performance of OKI's robust cash
recycling technology vis-a-vis the Indian currency environment. OKI has been serving the
Indian market since 2013 and its ATMs are deployed for other government-owned banks,
private and co-operative banks as well.
The last two years have witnessed many public and private banks deploying cash
recycling ATMs to efficiently manage customer cash deposits and withdrawals through the
same machine. The initial response saw migration of cash deposits from teller counters to
these advanced ATMs, significantly reducing teller operations and automating the cash
deposit process. After sustained trial and verification of technological stability, Indian
banks decided to deploy these ATMs outside the branches to provide around the clock
services.
"India is an important market for OKI and completing this project with SBI within
expected timelines is a significant achievement for us," says Rupinder Sandhu Anand, CEO
of OKI India Private Limited, an ATM sales company in India. "OKI plans to build on this
program experience and participate in bids for larger opportunities with SBI and other
banks."
In India, installation of ATMs and cash dispensers (CDs) reached 220,000 units in 2015,
making it the second largest market in Asia, following China. The number is expected to
continue expanding to 500,000 units by 2020 against the backdrop of economic growth.
Committed to utmost customer satisfaction, SBI is enhancing services and customer
convenience through various channels including the Internet and mobile to reach out to its
large customer base. Convenient banking services and efficient bank operations are key to
enhancing customer satisfaction and cash recycling ATMs are an important channel to
deliver valuable services for banks. The reliability and capacity of the ATM-Recycler G7,
was a big driver for SBI to consider deploying them in high transacting sites. While
reducing cash handling costs is a primary driver for deploying cash recyclers, the
enablement of interbank deposit transactions is another significant driver for banks to
move to cash recycling ATMs.
Designed as a strategic model for the global market, OKI's ATM-Recycler G7 has gained
a strong track record and has established itself in the burgeoning cash economy that is
India. A single ATM-Recycler G7 can handle Rs.50, Rs.100, Rs.500 and Rs.1000 denominations
and uses the deposited banknotes for withdrawals, leveraging its cash-recycling function
to reduce banknote management and operational costs compared to cash dispensers and
non-cash-recycling ATMs.
About State Bank of India (SBI
State Bank of India (SBI), with a 200 year history, is the largest commercial bank in
India in terms of assets, deposits, profits, branches, customers and employees. The
Government of India is the single largest shareholder with 61.58% ownership. It has assets
of INR 2,048,080 crores and 16,333 branches, including 191 foreign offices spread across
36 countries, making it the largest banking and financial services company in India by
assets.
About OKI Electric Industry (OKI)
Founded in 1881, OKI Electric Industry is Japan's leading telecommunications
manufacturer in the Info-telecom field. Headquartered in Tokyo, Japan, OKI provides
top-quality products, technologies, and solutions to customers through its info-telecom
systems and printer operations. Its various business divisions function synergistically to
bring to market exciting new products and technologies that meet a wide range of customer
needs in various sectors.
For more information, visit OKI's global website at http://www.oki.com
Note:The names of the companies and products mentioned in this document are the
trademarks or registered trademarks of the respective companies and organizations.
Press contact:
Mayuko Noto
OKI Public Relations Division
Phone: +81-3-3501-3835
Email: press@oki.com
Customer contact:
Global Strategic Planning Department
OKI Mechatronics Systems Business Division
Phone: +81-27-325-1111
Inquiry form: https://www.oki.com/cgi-bin/inquiryForm.cgi?p1e
[https://www.oki.com/cgi-bin/inquiryForm.cgi?p1e ]
Media Contact:
Rupinder Sandhu Anand
rupinder576@oki.com
+91-9820214055
Chief Executive Officer
OKI India Pvt Ltd
Photo:
http://photos.prnewswire.com/prnh/20160729/394092LOGO
Photo:http://photos.prnewswire.com/prnh/20160729/394092LOGO
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20160729/394092LOGO
http://photoarchive.ap.org/
OKI India Pvt Ltd.