Itautec shipped more than 16,000 ATMs worldwide in 2010

March 31, 2011

Brazilian-based ATM manufacturer Itautec (pronounced e-tau-tek), which recently entered the U.S. market, in 2010 shipped 16,300 ATMs and self-service terminals worldwide, up 101.8 percent compared with 2009. Company officials noted that in last year's second quarter, Itautec shipped 3,900 ATMs, the highest number of shipments for the past decade.

In addition, Itautec invested $40.7 million in equipment, software research and development in 2010, up 33.1 percent compared with 2009. The investment has resulted in Itautec supplying ATMs equipped with biometric solutions, recycling, anti-skimming, added safe security and other software to enhance the machines' capabilities.

"Itautec's technology is tailored to each client's specific needs," said Marcio Weltman Dvorkin, general manager of Itautec America, which is based in Doral, Fla. The company is entering the U.S. market with Adattis intelligent-deposit ATMs, Adattis cash-dispenser ATMs and Prizis kiosks.

Although Itautec recently announced that it was entering the U.S. market, Dvorkin said the company has been studying sales of ATMs in North America for some time. 

"We felt with ADA [Americans with Disabilities Act] compliance, this was a window of opportunity," he said during the ATM Industry Association (ATMIA) conference in February in Doral, Fla.  Dvorkin said he believes community banks and credit unions are prime candidates for the manufacturer's ATMs. 

"Large banks are mostly compliant with ADA requirements, but many small banks and credit unions still are not," he said.  Financial institutions must comply with ADA requirements by March 15, 2012.

Itautec displayed a variety of ADA-compliant ATMs, equipped with voice guidance for the visually impaired and the correct height for individuals confined to wheel chairs. Their display drew a large crowd.

"We expect to get some pretty good leads," Dvorkin said. Analysts, however, argue Itautec faces an uphill battle because the company does not have an ATM-service organization in the United States. Dvorkin is unfazed by the challenge.

"We expect to find the right [service] partners," said Dvorkin, adding that the company plans to grow regionally. He said he is in charge of finding the right partners.

"We have been successful entering more than 40 countries, and we're excited to bring innovative technology to U.S. banks, credit unions and consumers," said Dvorkin.

Itautec is a $1 billion global electronics-equipment company based in Sao Paulo, Brazil.

Topics: Bank / Credit Union , Latin America , Manufacturers , North America , Regulatory Issues

Companies: Itautec

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