News

BS/2 is honored for its work with ATMs

March 15, 2011

Banks in Estonia have honored BS/2 Estonia, after the company used its software to convert several hundred of Estonia's ATMs to dispense the euro as part of the country's entry into the European Union.

The financial institutions awarded BS/2 Estonia a diploma of commendation, said Rene Rozefas, head of BS/2 Estonia.

"We are very pleased to be thanked officially in a document signed by the presidents and vice presidents of the banks," Rozefas said. "The scope of the work we undertook and the responsibility we accepted have been duly appreciated."

Estona's banks recognized BS/2 for its collaboration in making retail banking equipment compatible with the euro, the currency of the European Union's 27 member states. Estonians overwhelmingly voted in September 2003 to join the European Union. Estonia is the 17th former member of the Soviet Union to switch its currency to the euro. 

As part of the European Union entry process, Estonia had to join the Exchange Rate Mechanism II, which is a waiting room for countries preparing to join the euro zone.

On Jan. 1, 2011, Estonia introduced the euro. The first euro transaction at an Estonia ATM occurred 15 minutes after the start of the new year, Rozefas said. Wincor Nixdorf AG, which is based in Paderborn, Germany, supplied the ATMs.

"The ATMs we supply to Estonian banks were made ready for conversion to euros some months ahead of the official changeover date," said Tomas Bublys, head of BS/2 Technical Department. "The preparation of the ATMs went ahead in accordance with a strict schedule."

BS/2 Estonia is a subsidiary of BS/2, which is based in Vilnius, Lithuania. The company is an international business process outsourcing company, specializing in software and hardware solutions for banks and retailers.