NCR reports smooth changeover in the "dash for cash"
Millions of customers heralded the new year by withdrawing crisp new euro notes from an NCR Corporation (NYSE: NCR) automated teller machine (ATM). With bank branches closed for the holiday, the ATM became the focus of those eager to acquire and spend the new currency. On an average day, customers use an ATM for around 70 percent of their cash requirements. This was no average day, however, with cash withdrawals reaching exceptional levels.As the clear ATM market leader in Europe, NCR had a crucial role to play in ensuring the introduction of the euro was a painless experience for the person on the street. NCR operates 50 percent of the 200,000 ATM machines in the euro zone.
Distribution of the new euro currency from NCR ATMs has passed without major incident. The company's euro command center, set up to monitor the smooth running of NCR's products across the euro zone and coordinate the deployment of engineers, reports that service calls during the changeover period were in line with expectations for the level of transactions processed.
"Taking cash out of an ATM is now something we all take for granted, whatever the currency unit. This was a vast undertaking and a lot of planning went into the achievement of a smooth changeover," said Simon Rubin, NCR Financial Solutions division's vice president of marketing for Europe, Africa and the Middle East. "We began planning for what has been dubbed 'e-day' back in 1996, and have been working with our customers to ensure their software and hardware is euro-compliant."
ATMs have been the main means of access to the euro. Around 50 percent of euro notes have already been put into circulation and the European Central Bank has stated that in some countries the demand for notes was up to four times the level for a typical New Year's Day.
"In the Netherlands alone our machines processed 2.5 million transactions on January 1," said Rubin, "and it has been reported that at peak times the network was processing 23 transactions per second."
Throughout the euro zone around 96 percent of ATMs are now dispensing euros. In Germany, Belgium, the Netherlands, Greece, Ireland, Austria and Luxembourg, all machines are dispensing the new notes.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in providing Relationship Technology(TM) solutions to customers worldwide in the retail, financial, communications, manufacturing, travel and transportation, and insurance markets. NCR's Relationship Technology solutions include privacy-enabled Teradata(R) warehouses and customer relationship management (CRM) applications, store automation and automated teller machines (ATMs). The company's business solutions are built on the foundation of its long- established industry knowledge and consulting expertise, value-adding software, global customer support services, a complete line of consumable and media products, and leading edge hardware technology. NCR employs 32,900 in more than 100 countries, and is a component stock of the Standard & Poor's 500 Index. More information about NCR and its solutions may be found at www.ncr.com .
NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries.
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