OpenSys to roll out RM36m worth of OKI Cash Recycling ATMs in 3Q

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KUALA LUMPUR (Sept 25): ACE Market-listed OpenSys (M) Bhd, a solutions provider for the financial services and banking industry, will be rolling out more than 500 units of OKI Cash Recycling ATMs (CRMs) worth RM36 million at Public Bank, Bank Islam, RHB Bank and other major banks in the third quarter of this year.

In a filing with Bursa Malaysia today, OpenSys said the latest development further cements its leadership position in the CRM market, with close to an 80% market share in Malaysia and more than 2,600 machines installed to date.

CRMs are dual-function machines that merge the cash dispensing functions of ATMs and the cash deposit functions of CDMs. CRMs accept cash from depositors and dispense them to withdrawers, so cash is essentially 'recycled'.

According to OpenSys, banks can typically save between 25% and 30% in both capital expenditure and annual operational costs with the CRMs.

"These significant savings have been a major driving factor for banks to undertake major fleet replacement and consolidation, resulting in the exponential growth of CRMs. In the last five years, the total number of CRMs in the market has grown exponentially with a compound annual growth rate of close to 40%," it added.

OpenSys also said it is poised to continue its leadership position in CRMs by continuing to partner with OKI Japan to work closely with the banks in delivering solutions that make a difference.

OpenSys shares closed up 0.5 sen or 1.6% at 31.5 sen today, for a market capitalisation of RM93 million.