CHICAGO -- Diebold, Incorporated (NYSE: DBD) will supply ABN AMRO Bank with upgrade components for more than 250 Diebold ATMs gained in ABN AMRO's acquisition of Michigan National Corporation, based in Farmington Hills, Mich. According to the two companies, the upgrade will save the company significant expense by allowing it to update the ATMs for conversion to the ABN AMRO network, rather than replacing the entire ATM fleet.
The majority of the ATMs targeted for upgrade are Diebold advanced- function lobby units. The ATMs will be upgraded from a firmware-based processor to a software-based HTP processor that will offer faster transaction times and provide the bank with electronic data capture capabilities. The units will also be upgraded with new color monitors for enhanced branding and marketing capabilities.
Donna Magnuson, vice president of ATM Network Services, ABN AMRO N.A., said the upgrade will allow the bank to add more functionality to its ATMs. "We will be able to provide new enhancements to the ATMs that are in line with ABN AMRO's strategic goals, such as multimedia dispensing and network marketing," she said.
"In this era of frequent mergers and acquisitions, Diebold is committed to providing our customers and the financial services industry with investment protection through open-architecture solutions which make ATM network conversions simpler and more cost efficient," said David Bucci, senior vice president of Customer Solutions for Diebold North America. "We're pleased to be able to offer ABN AMRO this opportunity and look forward to providing them other business-enhancing solutions."
In April 2001, Michigan National Corporation merged with ABN AMRO's Detroit-area banking subsidiary, Standard Federal Bancorporation, to form a wholly-owned subsidiary of ABN AMRO North America, Inc. In the fall of 2001, Michigan National Bank will combine systems with Standard Federal Bank, the primary subsidiary of Standard Federal Bancorporation, creating Michigan's largest bank for total deposits. The combined bank will operate under the Standard Federal Bank name and logo.
ABN AMRO will begin upgrading the Michigan National Corporation ATMs at the end of May to prepare for the merging of the two banking systems.
