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India's Yes Bank signs unique ATM placement deal with First Data
July 23, 2009
The Economic Times in India reportsthat Yes Bank has signed an ATM-deployment deal with United States-based First Data Corp. that includes the placement of 3,000 ATMs for the bank over the next five years. Five hundred ATMs are expected to be in place by August 2010, with the remaining units active by 2015. ATMs will first be set up in Mumbai and Delhi.
Rana Kapoor, the bank's chief executive, is quoted by The Economic Times as saying the move will help Yes Bank cut capital expenditures, since First Data will own and service the ATMs:
 | Yes Bank will handle the banking transaction part, like cash management, complaints management and interbank settlement. Although the machines will be FDC's assets, the legal responsibility of the ATMs will be with Yes Bank. |  |
Banks in India have outsourced ATM management before, but this deal reportedly marks the first time a deal that involves ATM installation by a third-party technology company has been signed.
Asia, Australia & PacificTransaction ProcessingRetail / Off-PremisesOutsourcingEFT NetworksNorth AmericaPublic CompaniesBank / Credit Union
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