HCL ties up with Korean co to launch ATMs for Indian banks

HCL Infosystems on Monday announced a tie-up with Korean major Nautilus Hyosung to launch customised Automated Teller Machine (ATM) solutions for India banks with a special emphasis on service-offering for rural areas.

"With just 38,000-plus ATMs in India serving a population of over 1.2-billion, there is going to be a huge demand for ATMs in India. Self-service banking is going to grow in the country," HCL Infosystems Chief Operating Officer (COO) J V Ramamurthy told reporters here.

Initially, HCL Infosystems will import ATMs as semi-knocked down (SKD) kits, then move to completely-knocked down (CKD) kits, and eventually as a part of indigenisation start manufacturing the whole units in India," he said.

The initial assembly will be done at HCL's plants in Puducherry and Uttarakhand, Ramamurthy said.

Nautilus is a leader in the ATM business with over 40 per cent market share in Korea and will offer the Indian banking sector a range of products and services as the country expands its ATM penetration.