NCR Corp. has received a major order from State Bank of India, which is significantly expanding its automated teller machine network.
NCR, a Duluth, Ga., vendor, said last week that India's largest financial company had signed a contract to buy 3,800 ATMs.
The deal includes NCR's Persona 75 and Persona 77 Solo models, which are made in Puducherry, India. Customers will be able to withdraw cash, make deposits with envelopes and obtain account balances from the machines.
NCR spokesman Jeff Dudash said last week that the Mumbai banking company has also signed a seven-year ATM maintenance contract.
The banking company operates a network of more than 15,000 ATMs; NCR said it supplied 10,000 of those machines.
The Indian company said in 2007 that it wanted to expand its network from the 7,200 machines it then had to 25,000 by the end of 2010, according to Dominic Hirsch, the managing director of Retail Banking Research Ltd., a London strategic marketing firm. It is expanding into new areas and replacing older machines.
"At the time, we thought the announcement was very optimistic," Hirsch said. With this contract, NCR has won the largest share of the bank's recent purchases of 7,500 ATMs.
In recent months, Wincor Nixdorf AG in Paderborn, Germany, and Diebold Inc. in North Canton, Ohio, have landed big ATM orders from State Bank of India.