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Riyad Bank and Diebold sign deal

Once the installation is complete, Riyad Bank will be in a position to provide its customers with a variety of options for electronic financial transactions (EFTs).

Riyad Bank of Saudi Arabia has teamed up with Diebold to deploy the vendor’s Opteva automated teller machines (ATMs) across its network in a move that underlines the company’s continued growth in the Middle East.

The installations will be maintained and serviced by the Alhamrani Universal Company (Universal/AU) that has also just reinforced its exclusive distribution agreement with Diebold to extend its commercial reach in Saudi Arabia and other markets in the Gulf, including Dubai, Bahrain, Oman and Qatar.

One of the largest financial institutions in the Middle East, the bank is a modern, financial-services company with a growing retail and corporate banking franchise in Saudi Arabia. It also has a full-service approach, which is delivered through a network of 200 branches, now including more than 650 ATMs.

30 ATMs will be installed this month and the rest will be deployed during 2005. This will expand the bank’s automated branch network, providing added convenience to its recently enhanced telephone, internet and mobile banking services.

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.

“Our retail customers are attracted to the bank’s innovative approach to consumer finance products and investment products alike,” says Riyadh Al-Zahrani, vice president and remote banking manager for Riyad Bank.

“For example, we offer the best deal on credit cards in the Kingdom as a result of an industry-leading initiative. Accessibility and convenience are also key benefits of being a Riyad Bank customer, and this was the reason for choosing Diebold Opteva ATMs,” he adds.

Since the 1980s, Alhamrani has been Diebold’s exclusive distributor of ATMs and physical and electronic security products in Saudi Arabia.

Diebold ATMs are supported and maintained by Alhamrani’s network of 20 service-support centres. Diebold and Alhamrani are also both poised to further develop a more competitive and professional customer-service oriented business.

They will expand their partnership by leveraging Alhamrani’s expertise in the service area, strengthening Diebold support in the Gulf and Middle East region. The geographic proximity of Alhamrani’s support centres will enable the company to provide faster response to requests for service.

Response time will be optimised due to better availability of spares stock, shorter shipment distances for parts, access to a more sophisticated repair center and more qualified technical staff that are already familiar with and experienced in specific ATM configurations in the region.

The expanded partnership, which comes as the result of years of collaboration between the companies, is intended to increase Diebold’s business and consolidate sales operations in the region.

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