Euronet signs ATM outsourcing agreement with ABN AMRO Bank in India
LEAWOOD, KANSAS and MUMBAI, INDIA — January 3, 2006 — Euronet Worldwide, Inc. (Nasdaq: EEFT), a leading electronic payments provider, today announced a multiyear ATM outsourcing and deployment agreement with ABN AMRO 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 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, Chief Operating Officer, 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 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, 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 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. 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 clients in three home markets – The Netherlands, the 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 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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