By Andrei Skvarsky.
Russia’s biggest lender Sberbank and South Korean industrial conglomerate Hyosung have set up a research and development centre in Russia to modernise Sberbank’s network of cash recycling ATMs, machines that can take deposits as well as dispense cash.
South Korean engineers will work alongside Sberbank specialists at the centre to develop a “next-generation ATM specially for Russia”, Sberbank said in a statement.
“Sberbank has the largest ATM fleet in Russia. But at the same time, there is a stable and growing trend of depositing cash,” the statement quoted the head of Sberbank’s sales network, Danil Shishnyov, as saying.
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