Dyad Corp., a maker of self-service banking terminals, has acquired Bank Systems and Equipment Corp.

Miramar, Fla.-based Bank Systems is best known for its Automated Banking Centers, self-service terminals that let bank customers make deposits, open accounts, print statements, apply for loans, and get a variety of check and money order products.

The terminals resemble automated teller machines and support video conferencing. Banks use them to give customers access to services 24 hours a day.

Institutions that have purchased the terminals tend to install them in branches and in special office locations.

Bank Systems' "virtual banking center concept defines the next generation of convenience-based customer services," said C. Michael Bowers, president and chief executive officer of Dyad.

"Financial institutions can bring services historically confined to office locations to remote, high-traffic locations."

Financial terms of the deal were not disclosed.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.