13:45, 13 June 2022 Page views 1418 views

Russian banks to migrate to home-made ATMs from 2023

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Large Russian banks will start purchasing domestic ATMs, RBC reports with reference to their sources.

The Russian financial sector has been faced with problems after foreign ATM manufacturers Diebold Nixdorf and NCR suspended operations in Russia amid Western sanctions. Although domestic manufacturers are entering the Russian market.

The Russian company BFS, a supplier of foreign machines since 2004, launched its own production of ATMs funded from a government subsidy from the Ministry of Industry and Trade. The start of production of the ATMs with the Elbrus processors is scheduled for early 2023.

BFS CEO and co-owner Artem Zhilonov told RBC that several large banks had already shown their interest in domestic devices. VTB is going to switch to them and intends to test the prototypes as soon as the first BFS ATMs have been manufactured. Sber is also ready to review proposals from potential manufacturers, provided that they meet the technical specifications, as well as security, ergonomics and design requirements. Rosbank and Russian Standard Bank do not rule out the possibility of switching to Russian machines either.