Nautilus Hyosung Wins Contract To Supply ATMs To Citibank

Nautilus Hyosung America Inc., a company primarily known for making ATMs sold by independent sales organizations, has signed a breakthrough agreement to manufacture ATMs for Citibank, owner of one of the largest bank-owned ATM networks, ATM&Debit News, a CardLine sister publication, has learned. The deal is considered a major, if not a landmark agreement, because large financial institutions traditionally have given most, if not all, of their business to Diebold Inc., NCR Corp. and Wincor Nixdorf International GmbH, the world's three-largest ATM manufacturers. Nautilus Hyosung's deal brings a fourth ATM player into the U.S. financial-institutions market. The deal has buoyed Nautilus Hyosung's confidence in entering a market supplying ATMs to financial institutions. As a result, the company has been interviewing candidates for vice president of financial institutions, a new position. Coppell, Texas-based Nautilus Hyosung today wrapped up its second-annual customer conference in Grapevine, Texas. Nautilus Hyosung executives refused to confirm or deny the agreement, but ATM&Debit News has learned from several sources attending the conference the company has delivered to during the past year its model 7600D, a drive-up ATM, and its model 7600T, a walk up ATM, to Citibank branches in Long Island, N.Y., and Los Angeles. Both machines have bulk-note acceptors and take deposits made with envelopes. Technicians, however, can upgrade the ATMs to accept envelope-free deposits. Citibank purchased the ATMs from Nautilus Hyosung because the bank is upgrading its entire ATM network, ATM&Debit News has learned. One of Nautilus Hyosung's customers who knows about the contract says the agreement involves a large number of ATMs, but he declined to say how many. Nautilus Hyosung is sharing the Citibank contract with NCR and Diebold.