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July 28, 2011

Brazil’s ATM market set to grow

Brazils Banco Bradesco SA has signed an agreement with global technology company NCR to widen the ATM market in Brazil.

By Verdict Staff

Brazil’s Banco Bradesco SA has signed an agreement with global technology company NCR to widen the ATM market in Brazil.

Under the preferred ATM provider agreement between NCR and Banco Bradesco SA’s subsidiary Scopus Tecnologia Ltd, NCR will provide its services over the next five years. Scopus will also acquire a 49% equity stake in NCR Manaus – NCR’s manufacturing and development operations arm in Brazil.

The initial order of 6,000 ATMs will be deployed at Bradesco’s existing and new branches. Scopus will provide services support after termination of the warranty period.

“This agreement reflects our belief in a strategic alliance with NCR that can deliver the innovation necessary to meet the Brazilian market’s growing demand for self-service and enable Scopus to drive significant growth within its business,” said Candido Leonelli, CEO of Scopus.

The agreement, subject to approval, aims to roll out 30,000 ATMs in the next five years. A Retail Banking Research report has revealed that Brazil’s ATM market is expected to grow by 27% by 2015.

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