Diebold selected by Riyad Bank of Saudi Arabia to expand ATM network

Riyad Bank, which has certified and purchased Diebold Opteva ATMs, has a full-service approach, delivered through an accessible network of 200 branches, now including more than 650 ATMs. One of the largest financial institutions in the Middle East, the Riyad Bank is a modern, financial-services company with a strong and growing retail and corporate banking franchise in Saudi Arabia.

The new ATMs will be rolled out in October 2004 and will expand the bank's automated branch network, providing added convenience to its recently enhanced telephone, Internet and mobile banking services.

"Our retail customers are attracted to the bank's innovative approach to consumer finance products and investment products alike," said Riyadh Al-Zahrani, vice president and remote banking manager for Riyad Bank. "For example, we offer the best deal on credit cards in the Kingdom as a result of an industry-leading initiative. Accessibility and convenience are also key benefits of being a Riyad Bank customer, and this was the reason for choosing Diebold Opteva ATMs. After a full evaluation of both our customers' needs and those of the bank, we picked Diebold's Opteva ATMs because of their unique functionality and potential for expansion."

Innovation, accessibility and convenience are all part of the Diebold Opteva family. Riyad Bank has purchased a mix of Diebold Opteva 720 advanced-function lobby ATMs and Opteva 740 advanced-function, through-the-wall, drive-up ATMs. Both run on Agilis™, Diebold's multi-vendor software platform.

With the expansion of its ATM network, Riyad Bank will now provide its customers with a variety of options for electronic financial transactions (EFTs). When the bank implements Diebold's Deposit Automation solutions, its customers will also have the ability to deposit cash directly into their personal accounts without the need to wait for access to a bank teller. Diebold's Deposit Automation solution enables Opteva to count notes in bulk and read checks, processing both as a single-deposit transaction displayed on the screen and verified with a receipt.

Diebold's newest generation of bundled cash deposit technology will accept a loose stack of up to 100 notes, validate and denominate the notes and immediately credit personal accounts. The system integrates a refined technology with the traditional ATM and heralds a new era of "deposit automation" - while simultaneously meeting full regulatory and compliance requirements.

The Diebold Opteva ATMs were sold and supplied to Riyad Bank by Alhamrani Universal Company (AU), a leading integrated-technology solutions provider to the banking industry in Saudi Arabia.

"Alhamrani Universal's ATM expertise and strong local support capability proved once more its commitment to Diebold business in Saudi Arabia," said Hassan Hares, director of business development for Diebold Middle East. "This contract is a win-win that demonstrates innovation, manufacturing and support of excellent products while maintaining positive client relationships."

Riyad Bank is an acknowledged leader in the areas of corporate banking and finance. Branches and offices in London, Houston and Singapore support the international banking needs of its clients.