The FINANCIAL -- Wincor Nixdorf, one of the world’s leading providers of IT solutions for the retail and banking sectors, has reinforced its presence in the Russian market and established its own subsidiary.
“We want to strengthen our already well-established position in the promising Russian market,” explains Eckard Heidloff, President and CEO of the company, to an audience of representatives from politics, industry and press at the subsidiary’s opening in Moscow. He foresees retail banks and retail companies on the Russian market entering a phase of competition among themselves, thus providing Wincor Nixdorf with potential for growth. “In the Russian market, our customers are increasingly concerned with combining customer-friendliness and efficient processes. We would like to support them in this endeavor and, together with our partners, intend to focus on providing software and services in addition to hardware,” Heidloff pointed out.
Wincor Nixdorf finds itself in a good starting position, both in the banking and retail sectors. Strategic cooperation with local companies acting as sales and service partners has been ongoing since 1997. This business model has proven to be very successful and will be supported and extended by strengthening Wincor Nixdorf’s resources in Russia. In the last ten years, market share of ATMs has risen from 4 percent to 30 percent while the market share of electronic POS systems for retailers saw a remarkable increase from 1 percent to 42 percent. As measured by their balance sheet totals, eleven of the twenty largest retail banks are customers of Wincor Nixdorf’s. And in terms of sales, twelve of the twenty largest Russian retail companies are among Wincor Nixdorf’s customer base. “In addition, Wincor Nixdorf supports international retail companies wishing to expand in the Russian market”, company said.
With 256 ATMs and 456 electronic POS systems per one million inhabitants, the Russian market offers promising perspectives compared with Western Europe. By way of comparison, Western Europe has 736 ATMs and just under 5000 POS systems installed per one million inhabitants.
According to Wincor Nixdorf many banks and retail companies are also investing in improvements to process efficiency and customer service due to increasing competition in the Russian market. With total solutions for process improvement that include hardware, software and services, Wincor Nixdorf can make a considerable contribution to the competitiveness of banks and retail companies. In the future, Wincor Nixdorf will increasingly strive to adapt internationally successful concepts to the conditions and requirements of the Russian market. By adding further resources to its own existing service networks as well as those of partner companies, Wincor Nixdorf aims to improve service quality and availability even more.