Article

Symstream wins another wireless ATM contract with an Indonesian bank

Symstream develops and makes wireless-data transmission solutions based on international mobile-wireless standards for existing public-mobile networks.

April 10, 2011

Mandiri Bank, Indonesia's largest bank based on assets, loans and deposits, has awarded Symstream Technology Group Limited a contract to deploy wireless ATMs, which a bank executive says will speed installations and reduce transmission costs.

Symstream develops and makes wireless-data transmission solutions based on international mobile-wireless standards for existing public-mobile networks.

According to a company news release, Jakarta-based Mandiri Bank this year is expanding by 2,000 its current fleet of around 6,400 machines. The increased deployment is part of a $120 million upgrade to the bank's electronic banking and IT infrastructure.

"Installing Symstream wireless solution across our ATM fleet will enable us to continue to provide the highest quality of service to customers," said OC Harry Pudjiatmoko, senior vice president of the bank's IT Operations Group.

"Mandiri Bank processes millions of ATM transactions annually, and the adoption of the Symstream [technology] will reduce communications costs, increase transactions' speeds and facilitate faster ATM rollouts," Pudjiatmoko said. "This contract represents Mandiri's continuing strategy to grow market share through the provision of innovative and best of breed technologies, which help us reduce total cost of ownership as well as provide superior functionality."

Neither party disclosed the contract's details.

The agreement with Mandiri Bank, which serves 8.7 million customers and has $42 billion in assets, is the second contractSymstream has signed recently with an Indonesian bank. The company also inked a deal with Syariah Mandiri Bank, an Islamic financial institution.

Symstream is based in Melbourne, Australia.