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January 27, 2014

OKI Electric delivers new cash-recycling ATMs to SBI

OKI Electric Industry, a Japan-based telecommunications manufacturer, has delivered its cash-recycling ATMs, ATM-Recycler G7, to State Bank of India (SBI).

By Verdict Staff

OKI Electric Industry, a Japan-based telecommunications manufacturer, has delivered its cash-recycling ATMs, ATM-Recycler G7, to State Bank of India (SBI).

Following live field tests of the ATMs, SBI was convinced with its recycling functions and considered to install the units.

The SBI Group currently operates around 39,000 units of ATMs and cash dispensers (CDs). The overall number of ATMs and CDs in India were 140,000 units in 2013, third largest in Asia after China and Japan.

The number of ATMs and CDs is expected to further increase and double by 2016.

OKI systems hardware business division senior vice president and general manager, Shinya Kamagami, said under the mid-term business plan 2016 revealed on 12 November 2013, one of most important management strategies is to develop new overseas markets for OKI’s ATMs.

"The delivery of ATM-Recycler G7 to SBI is a solid step in line with this strategy. It follows installations in Russia and Indonesia, in addition to Japan and China where OKI already has strong track records.

"Moreover, in May 2013, OKI announced an expansion into the Brazilian ATM market. Moving forward, OKI plans to further expand its ATM business which will enforce OKI’s future growth," Kamagami added.

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