Diebold and Citibank Announce ATM Outsourcing Agreement in Russia

MOSCOW, April 26 /PRNewswire-FirstCall/ -- Diebold, Incorporated (NYSE: DBD) a global leader in providing integrated self-service delivery and security systems, today announced a multiyear automated teller machine (ATM) outsourcing and deployment agreement with ZAO Citibank (a full subsidiary of Citi in Russia), one of the leading banks in the country.

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Under the agreement, Diebold will provide ATM outsourcing services for a portion of Citibank Russia's ATM network, including ATM status monitoring, help desk, currency management and forecasting, cash handling and software distribution along with various field maintenance services to Citibank.  Diebold started providing ATMs to Citibank in Russia under a long-term agreement in the first quarter of 2010.

"Thanks to our outsourcing service, Citibank will obtain a single point of contact for dealing with its ATM operations, improving both the network's management efficiency and the client service quality," said Sergey Rasskazov, general manager of the Diebold operation in Russia and Commonwealth of Independent States (CIS). "This will relieve the bank from engaging in the service support of the ATM network and will substantially lower its non-core operations expenses, allowing the bank to redirect and invest these resources into its principal business processes. Citibank's decision to choose ATM outsourcing is evidence of this positive trend in the Russian market."

Sergey Larchenko, head of operations with private clients, Citibank Russia, said, "Currently, Citibank owns more than 370 ATMs in Russian regions. Most ATMs allow different operations with no queues at any time. The operations include cash deposit and withdrawal -- even without using a credit card -- as well as real-time credit to an account without using envelopes, utilities and communications payments, commercial TV payments, personal identification number (PIN) changes and more. Adopting innovative technologies in the financial operations has always been one of Citibank's major advantages. We hope that our new joint ATM outsourcing project with Diebold will lead to a successful relationship that allows our work with retail clients to be even more effective."

Citibank's ATM network in Russia will be expanded with new Diebold Opteva® 522 and full-function Opteva 328 models. At the same time, Citibank will not purchase the ATMs, as the equipment will be leased from Diebold as part of the outsourcing service agreement that will allow the bank to expand and update the ATM network without significant capital investments.

All ATMs will be connected to a single monitoring center that controls the network's operations and will monitor each device in real-time. Repair and modernization, software updates and replenishment of ATMs with disposable materials and cash will be fulfilled by Diebold's technical support divisions in Russia.

Diebold is the largest global provider of ATM outsourcing services with nearly 60,000 ATMs under different managed services contracts within the financial industry. Diebold has been awarded outsourcing contracts on several continents and continues to provide market-leading solutions to customers who realize the benefits of comprehensive ATM servicing.

For the fourth straight year, Diebold has been recognized by the International Association of Outsourcing Professionals (IAOP) for its leadership role in providing global outsourcing services that reach well beyond the ATM network.

About ZAO Citibank

ZAO Citibank, a full subsidiary of Citi in Russia, has been operating since 1993 when it became one of the first banks with foreign capital to enter the Russian market. It was the first out of three current subsidiaries of Citibank in CIS. Citibank has since grown its business to be among the country's largest banks offering a full range of products and services to corporate and consumer customers. At present, the Bank has over 3,000 employees; its distribution network includes retail branches, over 350 ATMs and representative offices in largest cities in Russia, Ukraine, and Kazakhstan. 

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

About Diebold

Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 16,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at www.diebold.com, or visit www.diebold.com/150 to learn more about Diebold's 150-year history.

SOURCE Diebold, Incorporated