Diebold, Incorporated, a global leader in providing integrated, self-service and security solutions, has been selected by Riyad Bank to deploy 100 Diebold Opteva automated teller machines (ATMs) across the bank's network. Riyad Bank has an accessible network of 200 branches, with more than 650 ATMs.
The installations will be maintained and serviced by the Alhamrani Universal Co. (Universal/ AU) that has also just reinforced its exclusive distribution agreement with Diebold to extend its commercial reach in Saudi Arabia to other markets in the Gulf, including Dubai, Bahrain, Oman and Qatar.
"Our retail customers are attracted to the bank's innovative approach to consumer finance products and investment products alike," said Riyadh Al Zahrani, Vice President and Remote Banking Manager for Riyad Bank.
Alhamrani Universal Company (AU) is a leading integrated technology solutions provider to the banking industry in Saudi Arabia. It is the exclusive distributor of Diebold and Hypercom solutions. AU's portfolio of solutions/services includes Hypercom solutions, Banctec Document Management Solutions and security solutions.
About 30 ATMs were installed in December 2004. This will expand the bank's automated branch network, providing added convenience to its recently enhanced telephone, Internet and mobile banking services. Riyad Bank has purchased a mix of Diebold Opteva 720 advanced-function lobby ATMs and Opteva 740 advancedfunction, through-the-wall, drive-up ATMs. Both run on Agilis, Diebold's multi-vendor software platform.
When the bank implements Diebold's Deposit Automation solutions, its customers will also have the ability to deposit cash directly into their personal accounts without the need to wait for access to a bank teller.
Diebold's Deposit Automation solution enables Opteva to count notes in bulk and read checks, processing both as a single-deposit transaction displayed on the screen and verified with a receipt.
Diebold's newest generation of bundled cash deposit technology will accept a loose stack of up to 100 notes, validate and denominate the notes and immediately credit personal accounts. The system integrates a refined technology with the traditional ATM and heralds a new era of "deposit automation" - while simultaneously meeting full regulatory and compliance requirements.
Diebold, Incorporated is a global leader in providing integrated self-service delivery systems, security and services. Diebold employs more than 13,000 associates with representation in more than 88 countries worldwide and is headquartered in North Canton, Ohio, USA. Diebold reported revenue of $2.1 billion in 2003 and is publicly traded on the New York Stock Exchange under the symbol "DBD." (For more information, visit Diebold at www.diebold.com and Alhamrani Universal Company Ltd. at www.universal.com.sa.)
© Saudi Commerce and Economic Review 2005
