MELBOURNE, Australia - Macquarie Bank, Optus and Symstream have signed deals to roll out ATMs on Optus' Symstream II-based wireless network.
According to a news release, the deal between Optus and Symstream allows Optus to deploy Symstream's technology throughout Australia, with the objective of providing a low cost, secure wireless-communications alternative for the financial transactions in Australia.
Macquarie Bank expects to install the wireless technology on 2,000 of its ATMs by the fourth quarter of 2007. The Symstream-based wireless services are expected to be available to other Optus clients in Australia by the third quarter 2007.
The network also is expected to reduce ATM transaction times.
"Providing Symstream to the financial-services sector of Australia is an important and strategic step for our company and we are pleased to have leading groups like Macquarie Bank and Optus as our business partners," said Michael Neistat, Symstream's managing director. "Optus's extensive GSM network and commitment to customer satisfaction and the ongoing improvement of its products and services, together with the overall commercial might of Macquarie Bank, will provide a formidable partnership and the perfect springboard to launch Symstream II services here in Australia."
