STRATEGIC PARTNERS
May 22, 2002
BEIJING -- China's Beijing Commercial Bank, which is in the process of modernizing its consumer services, has purchased 60 Personas ATMs from NCR Corp. (NYSE:NCR).
NCR will also provide software support for the Personas ATMs. NCR officials said it was a "multimillion-dollar" deal, but would not place a specific price tag on it.
The purchase is one of several initiatives taken by the bank in response to growth within the Chinese financial sector. The bank has installed more than 300 ATMs, along with multimedia customer assistance kiosks and different machines that convert currency to foreign denominations and print out passbooks. Beijing Commercial has also opened 10 self-service banking facilities.
In a news release, NCR officials said this was NCR's first deal with Beijing Commercial Bank, which has 108 branches throughout eight districts in Beijing.
Established in 1996, the bank finished fiscal year 2001 with total assets of $11.3 billion. The bank has focused on technology since its establishment, according to Beijing Commercial Bank chief Yan Xiao Yan, investing in its own IT department at the time of the bank's launch and developing technology-driven financial products and services.
