Ncr Sees Atm Mart Expanding

The $196 billion US-based NCR Corporation, global leaders in financial self-service solutions, has projected that the market for automated teller machines (ATM) in India will grow to Rs 200 crore-plus in the current year.

The company, which operates in India through its wholly-owned subsidiary NCR Corporation India Pvt Ltd, has zeroed in on the new private sector banks to grab a chunk of the potential market.

Following the transition from teller to ATMs, NCR now plans to introduce the concept of expanding the ATM's role from only cash dispension to profit centres for the bank. Value-added services like airline tickets, postage stamps and financial instruments like bonds and securities are some of the options under consideration.

 

Srinivas Rao, head, self-service solutions (India), told Business Standard, `During the current fiscal, January to December 2000, we expect the ATM market to grow to 2,500, of which NCR should be able to grab a major share. The bulk of this business, estimated at Rs 200-crore plus, would come from the new private sector banks. This also implies that once the private sector banks get mobilised, the public sector will have little choice but to follow.'

Earlier at a seminar on technology solutions for banking and finance, Banktech 2000, Unit Trust of India chairman P S Subramanyam said the Indian banking sector still has had a long way to go in terms of self-service solutions through the ATM route. `Out of 50,000 branches in India, only 10 per cent are fully computerised while 20 per cent are partly computerised. There is still a vast potential which needs to be tapped.' Subramanyam was chief guest at the three-day seminar which continues till May 14.

In India, NCR Corporation currently enjoys 60 per cent of the market share for financial self-service solutions. The remaining 40 per cent is with US-based Diebold, which is also its global competitor in this area.

During the current year, the company plans to expand to 75 cities and also get into part-consultancy services to aid its expansion of the financial self-service solutions market.