INDUSTRY TRENDS SPOTLIGHT Connecting innovation with bottom-line results through outsourcing Citibank Greece Banks and retailers are accelerating the adoption of outsourcing as  a way to increase operational efficiency, gain competitive advantage  and create shareholder value. ith the explosive growth of banking technologies and delivery channels, outsourcing the management and processing of financial transactions is fast becoming a worldwide phenomenon. Outsourcing enables companies to free up human resources and financial capital to focus on their core competencies. W Banks and retailers are embracing the outsourcing advantage, chiefly to achieve bottom-line reductions on direct and indirect costs. As a long- term strategy, outsourcing also affords companies immediate access to cutting-edge technology and the ability to leverage specialized expertise through outside suppliers and vendors. Forbes magazine calls outsourcing “the wave of the future,” and analysts forecast that by 2003 outsourcing in the banking and finance sector will total $91 billion in Europe and nearly $240 billion in the US. 1 Euronet Worldwide continues to focus on complete end-to-end outsourc- ing solutions to help financial institutions bring together complex  technologies and to further enhance the value of ATMs and web-based  banking and transaction applications. Our cost-efficient outsourcing  services enable any transaction-oriented business to deliver seamless, real-time transactions and event notifications via a state-of-the-art  processing infrastructure. Euronet’s growing portfolio of outsourcing clients includes large global banks such as ABN AMRO, Citibank, ING Bank, GE Capital and Deutsche Bank; major regional financial institutions such as Raiffeisenbank, Banco Comercial Português (BCP) and Bank Austria/Creditanstalt; and retailers in the US such as the Dillard’s  Department Store chain and Saks Incorporated.  Outsourcing provides real value for banks and retailers seeking ways to drive efficiencies within their operations. With the staggering potential of new markets worldwide, we believe that leveraging our infrastructure and networks to deliver quality ATM, mobile and Internet banking solutions on an outsource basis is key to our strategy  for growth. Fast Track for ATM Outsourcing A long-term agreement with Citibank N.A. to deploy and operate 250 ATMs in Greece now makes Euronet the largest independent provider of ATM out- sourcing services in the country. With this comprehensive agreement, Citibank is launching its first ATM program in Greece. With record speed and efficiency, Euronet has provided complete ATM site identifica- tion and operating services for the ATMs.  “Outsourcing ATM deployment and manage- ment enables Citibank to control the quality and costs of this distribution channel without committing our own management resources,” says Chris Vasilliades, Citibank Vice President.  1 INPUT (March 2000) 8