State Bank of India Expands ATM Network with Diebold Deal

Strategic Insights -

State Bank of India (SBI) has embarked on a significant expansion of its automated teller machine (ATM) network, partnering with U.S.-based Diebold, Inc. to deploy over 1,000 new cash dispensers, 600 full-function lobby ATMs, and 60 cash recyclers. This move is part of SBI's strategy to increase its reach and leverage its brand across the country. The expanded network will enable the bank to provide efficient self-service options to its vast customer base, including those in remote and rural areas.

Key Takeaways:

  • SBI has signed an agreement with Diebold, Inc. to deploy over 1,000 new cash dispensers, 600 full-function lobby ATMs, and 60 cash recyclers, increasing its ATM network to over 28,000 terminals.
  • The new ATMs and cash recyclers will be specially designed for India, featuring a highly-efficient Intel Atom Dual Core embedded series processor, which will optimize power consumption by approximately 40% compared to conventional processors.
  • The ATMs will also feature touch screens, voice guidance support, Braille enablement, and enhanced security features, including a card reader with improved security functionalities.
  • The deployment will cover metro, urban, semi-urban, rural, and remote areas, including Northeast India, as part of SBI's strategic self-service expansion plan.
  • Diebold will provide SBG with its full-function models D450 ATM and D422 CD, which are designed to enhance the self-service technology on ATMs and automate deposit functions.

Statistics:

  • Total ATM network: over 28,000 terminals
  • Number of new cash dispensers: approximately 1,000
  • Number of new full-function lobby ATMs: over 600
  • Number of new cash recyclers: 60
  • Power consumption increase: 40% reduction compared to conventional processors

Sources:

  • State Bank of India release
  • Diebold, Inc. website: dieboldindia.com
  • Diebold, Inc. website: diebold.com