Sberbank of Russia to import Hyosung ATMs

The largest bank in Russia, Sberbank, is working on enterprise-wide digital transformation and ATMs supplied by Hyosung TNS are at the center of the effort. The bank is planning to import 54,000 ATMs from the South Korean company until 2022, according to a report in Business Korea. The functions of the ATMs will include not only cash deposit and withdrawal, but also courier service application, airline ticketing, taxi call, movie theater reservation, etc.

This year, the annual sales of Hyosung TNS are expected to exceed one trillion for the first time based on its increasing overseas contract volume.

In South Korea, the number of ATMs is on the decline with a decrease from 70,105 to 55,807 from 2013 to 2019.

Under the circumstances, Hyosung TNS began to focus on overseas markets such as the U.S., Russia and India. Its current market share amounts to 47% in the U.S. It is currently the largest ATM supplier in the U.S. and the third-largest in the world behind U.S. companies Diebold Nixdorf and NCR.

According to Hyosung TNS, demand for ATMs is likely to continue to increase.

Source: ATM Marketplace