DAYTON, Ohio - NCR Corp. has won a $192 million contract to operate and manage Royal Bank of Canada's automated teller machine network for the next seven years.
Under the agreement, NCR, an ATM manufacturer, is to maintain the bank's machines, install new ones, manage all paper statements and receipts, and stock the machines with cash.
The bank has about 4,700 ATMs throughout Canada. Until now it has managed most of its ATMs in-house, though NCR had been monitoring and performing maintenance on about 1,000 of them.
The contract was signed Dec. 22, the companies said, and will be phased in over the next few months. "This deal gives us nearly one-fifth of all ATMs in Canada," said Paul Curtin, spokesman for NCR. "We'll have everything up and running by early April."
"NCR provides many of these services for us today," said Ron McClure, the bank's senior manager for self-service networks.