Euronet Signs ATM Outsourcing Agreement with ABN AMRO Bank in India.LEAWOOD, Kan. & MUMBAI, India -- Euronet Worldwide Euronet Worldwide, EEFT (Nasdaq), is the largest independent Automated teller machine (ATM) acquiring network in Central/Eastern Europe. It was founded in 1994 by brothers-in-law Dan Henry and Mike Brown. Euronet purchased it's software solutions vendor, Arksys, in 1999. , Inc. (Nasdaq: EEFT EEFT End-to-End Force Tracking ), a leading electronic payments provider, today announced a multiyear ATM outsourcing and deployment agreement with ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) Bank, a leading multinational bank in India. ABN AMRO Bank in India has eight decades of business experience in India. Under the agreement, ABN AMRO Bank (India) will outsource its existing network of 90 ATMs to Euronet India. The company has already taken over the operation of the bank's ATMs and will provide end-to-end ATM outsourcing services from its operations center The facility or location on an installation, base, or facility used by the commander to command, control, and coordinate all crisis activities. See also base defense operations center; command center. in Mumbai. Additionally, ABN AMRO Bank also plans to aggressively increase its ATM network in the country over an 18-month period subject to regulatory approval. Under the agreement, Euronet India will select specific locations which have regulatory approval, install the new ATMs and all related equipment, drive the ATMs and provide all day-to-day outsourcing services for the bank's ATMs. This will include network management and monitoring, help desk, and related maintenance. "As a leading foreign bank in the Consumer Banking space, ABN AMRO will benefit from Euronet's ATM deployment expertise in expanding the bank's network in a short period of time," said Paul Abraham Paul Abraham (Pál Ábrahám) (born November 2, 1892 in Apatin, Austria-Hungary (today Serbia); died May 6, 1960 in Hamburg) was a composer of operettas. Like many other composers of operettas, Paul Abraham startet with works of a serious nature. , Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , ABN AMRO Bank N.V, India & Middle East. "With the addition of ABN AMRO Bank (India), Euronet now provides ATM outsourcing services for five out of six multinational banks operating in the Consumer Banking space in India, which is a remarkable achievement for our Indian team," said Daniel R Henry, Euronet Worldwide President and Chief Operating Officer. "The concept of outsourcing ATMs to experienced service providers such as Euronet has been well accepted by banks in India List of Banks in India, other than co-operative banks: Public sector banks SBI group: State Bank of India, with its seven associate banks command the largest banking resources in India. and we are very pleased to be leading this progression in the market. The banking partnerships we have established over the last three years in India is testament of our expertise and we are confident that ABN AMRO Bank (India) will benefit from our proven outsourcing solutions." About Euronet Worldwide Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The company offers outsourcing and consulting services, integrated EFT software, network gateways, electronic prepaid top-up services to financial institutions, mobile operators and retailers, as well as electronic consumer money transfer and bill payment services. Euronet operates and services the largest pan-European group of ATMs and operates the largest Indian shared ATM network. Euronet is also one of the largest providers of prepaid processing, or top-up services, for prepaid mobile airtime. The company is a licensed electronic money transmitter and bill payment company via Euronet Payments and Remittance, Inc. The company has processing centers located in the U.S., Europe and Asia, and processes electronic top-up transactions at more than 218,000 point-of-sale terminals across more than 109,000 retailers in Europe, Asia Pacific, Africa and the U.S. With corporate headquarters in Leawood, Kansas Leawood is a city in Johnson County, Kansas, United States and is part of the Kansas City Metropolitan Area. The population was 27,656 at the 2000 census. Geography Leawood is located at (38.920802, -94. , USA, and 23 worldwide offices, Euronet serves clients in approximately 70 countries. Visit the company's web site at www.euronetworldwide.com. About ABN AMRO Bank Netherlands-based ABN AMRO is a leading international bank with total assets of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 899.3 bln (as at 30 September 2005). It has over 3,000 branches in more than 60 countries and territories, and has a staff of over 98,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext and New York stock exchanges New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . ABN AMRO operates through three Strategic Business Units, each responsible for managing a distinct client segment. Wholesale Clients provide integrated corporate and investment banking services to corporate, institutional and public sector clients worldwide. Consumer & Commercial clients focuses on retail and SME (1) (Small and Medium-sized Enterprise) See SMB. (2) (Subject Matter Expert) An individual who is well-versed in the policies and procedures of a particular department or division. clients in three home markets - The Netherlands, the Netherlands, The officially Kingdom of The Netherlands byname Holland Country, northwestern Europe. Area: 16,034 sq mi (41,528 sq km). Population (2005 est.): 16,300,000. Capital: Amsterdam. Seat of government: The Hague. Most of the people are Dutch. US Midwest and Brazil and in a number of selected growth markets. Private Clients & Asset Management provides private banking services to wealthy clients and investment products to financial intermediaries Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. and institutional clients. In India, ABN AMRO has an eight-decade long experience of the Indian business scenario. Traditionally known as a strong "diamond financing bank", it has turned into a bank providing a comprehensive range of services with a difference. ABN AMRO (India) has branches in Mumbai, Delhi, Chennai, Kolkata, Pune, Baroda, Hyderabad, Bangalore, Surat, Noida, Gurgaon, Panipat, Lucknow, Tirupur, Mangalore & Moradabad with each branch servicing multi-product relationships. Consumer Banking offers a suite of products for your personal financial needs offered through various channels including ATMs and Net Banking. ABN AMRO Van Gogh Preferred Banking caters to high-net-worth clients of the bank. ABN AMRO in India enjoys a strong image as a corporate bank with comprehensive Global Transaction Services. Its investment banking services are delivered through ABN AMRO (India) Corporate Finance and the Global Financial Market Teams, which strive to maintain the permanent position, we have built in the marketplace. Further, ABN AMRO Private Banking provides advisory and wealth management services to the bank's wealthy clients. |
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