News

Customers Limited announces managed service agreement with Bank of Queensland

June 16, 2011

Customers Limited, Australia’s leading owner/operator of ATMs, today announced a five-year agreement with Bank of Queensland Limited (BOQ) to provide ATM managed services to more than 400 terminals.

According to a company press release, the agreement will see ATM Solutions Australasia Pty. Ltd., a wholly-owned subsidiary of Customers Limited, manage a core fleet of about 100 BOQ off-branch ATMs throughout Australia as part of the rediATM network.

In addition to the off-branch locations, the agreement also provides for more than 300 terminals within Customers Limited's existing fleet to transfer to a fully outsourced model with BOQ. As a result, Customers Limited will receive predictable monthly revenue on these terminals for the next five years, replacing their current transaction-based revenue.

Customers Limited will deliver fully outsourced managed services, including ATM hardware, software, maintenance, cash servicing and 24-hour technical support, with all terminals to carry the rediATM brand.

The agreement represents one of the largest ATM asset expansions by an Australian financial institution in several years. Over the next few months, Nautilus Hyosung's Monimax 5600 ATMs and Kalignite software will be deployed to all 400-plus sites under the agreement.

"Today's announcement represents the first major milestone in our diversification and growth journey, and most importantly recognition of the competitive offering that Customers is able to provide to Australia's main financial institutions and their cardholders," said Tim Wildash, managing director, Customers Limited.