OKI Signs Global Alliance Agreement with Nautilus Hyosung in the Financial Sector.- The Two Top ATM Vendors in Japan and Korea Korea (kôrē`ə, kə–), Korean Hanguk or Choson, region and historic country (85,049 sq mi/220,277 sq km), E Asia. Cooperate in System Development, Production and Sales - TOKYO -- Oki OKI Okinawa OKI Open Knowledge Initiative (Massachusetts Institute of Technology) OKI Ohio-Kentucky-Indiana (also KOI) Electric Industry Co., Ltd. (TOKYO:6703) today announced it has signed global alliance agreement with Nautilus nautilus, in zoology nautilus, cephalopod mollusk belonging to the sole surviving genus (Nautilus) of a subclass that flourished 200 million years ago, known as the nautiloids. Hyosung This article is about Hyosung Group. For the motorcycle manufacturer, see Hyosung Motors & Machinery Inc.. Hyosung Group is a Korean industrial conglomerate (chaebol), founded in 1957. Inc., the top ATM (Automated Teller Machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. ) manufacturer in Korea, for the global deployment of financial systems. By utilizing the strengths in both companies, OKI and Nautilus Hyosung will develop and manufacture financial systems including ATMs and cash processing equipment, which will be sold in Korea, China and other overseas markets. "We are proud to announce this collaboration Working together on a project. See collaborative software. with Nautilus Hyosung, and together, we will focus on the ATM replacement demand, expected in Korea," said Katsumasa Shinozuka, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Oki Electric Industry. "We will also work together to develop new products, to which OKI, the top ATM vendor in Japan, can contribute its mechatronic technology strengths. This strategic collaboration with Nautilus Hyosung will enable OKI to enhance its technologies, effectively manufacture financial systems including high-quality multifunction ATMs, and provide the ATMs to overseas markets." Nautilus Hyosung is a financial systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. from the Hyosung Group. In addition to being the top ATM vendor in Korea, it also provides over 80 thousand cash dispensers (CD) to the U.S. market. OKI, on the other hand, is the top ATM vendor in Japan (based on installed base), providing them to financial institutions, retail and convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. . OKI was the first company to develop bill-recycling method for ATMs, which enables to use the deposited banknotes for withdrawal use. As the Japanese ATM market matures, OKI who has been providing ATMs to overseas market including China since the fiscal year ending March 2004, is planning for further expansion overseas. Korea currently has 90,000 installed ATMs (including CDs), 40% of which are non-CD ATMs that have cash recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. functions. This number is growing significantly in Korea, particularly in commercial bank installations, so the two companies will focus on the demand for both ATM replacement and new installations, which is expected to reach 15 thousand units in the next six months. This demand -- conversion from CDs to ATMs or new installations of ATMs -- is driven by the issuance of KoreaeIUs new banknotes which occurred in January 2006, with additional issuance planned for January, 2007. During the fiscal year ending March 2007, OKI shipped to Nautilus, 5,000 bill recycling modules for ATMs, which will be sold as ATMs in the Korean market. The two companies will also develop new products based on OKIeIUs strengths in mechatronic technologies such as bank branch systems and cash processing equipment, which will promote automation and save labor in over-the-counter work at banks. In addition, they will develop ATMs for the off-premise market in the U.S., in which Nautilus has high market share. "OKI and Nautilus Hyosung have been working together in the bill recycling module for ATMs since April 2006. By taking this a step further, we will have a stronger collaboration," said Pill-Koo Ryou, CEO of Nautilus Hyosung. "While we will be able to expand OKIeIUs overseas ATM business with our strong track record in Korea and in the U.S., Nautilus Hyosung will also benefit by working with a company with advanced ATM technologies." About Oki Electric Industry Co., Ltd. Founded in 1881, Oki Electric Industry Co., Ltd. is Japan's first telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. manufacturer, with its headquarters in Tokyo, Japan. OKI provides top-quality products, technologies and solutions to its customers through its info-telecom system business, semiconductor business and printer business. All three businesses function as a collective force to create exciting new products and technologies that satisfy a spectrum of customer needs in various markets. Visit OKI's global web site at http://www.oki.com/. About Nautilus Hyosung Inc. Nautilus Hyosung (NH) is a leading provider of complete solutions, including hardware, software and services to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and off-premise markets. Nautilus Hyosung has over 27 years of experience in the industry, with proven technologies for ATMs and other self-service products. For more information please visit http://www.nautilus.hyosung.com Notes: -- Names of companies and products are trademarks or registered trademarks of the respective companies and organizations. |
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