Originally posted and created by Dallas Innovates, LANCE MURRAY • JAN 31, 2023
“Innovue is a compound word that stands for “Innovation + Vision” and expresses our company’s goal of creating exciting new solutions, services, and experiences,” CMO Brad Nolan told Dallas Innovates. “It also represents ‘Innovation for You,’ reinforcing our commitment to improving the lives of everyone.”
“Nowhere in our new frame of reference will you find the words ATM, cash, retail, or banking,” he added. “We have opened the aperture and unshackled our employees to think big.”
CEO Sanghwan Kweon says that while the rebranding began in 2022, the thinking behind it goes way back.
“Our company has a long history of harnessing its unique combination of a manufacturer’s soul with an innovator’s mindset to build a platform of ATM and cash-management solutions,” Kweon said in a statement.
Since the South Korean company entered the North American market in 1998, Hyosung says it’s become the largest provider of ATMs in the U.S. and has grown into offering best-in-class, innovative, and transformative technology solutions across the cash management and payments spectrum.
But its new branding goes beyond that and deeper into the human experience—especially given the impact of the pandemic.
“We’re witnessing a consumer-led revolution as people reinvent how they work, shop, eat, bank and play,” Nolan told us. “The pandemic has only accelerated this. In 2022 we embarked on a journey to reinvent our company from the inside out—we called it Project DNA.”
“Recognizing that brand is much more than a name and logo, we partnered with a top global branding firm to navigate the process of redefining and communicating our story of value to the market—a message of who we are, how we do it and most importantly, why we do it.”
Last summer, Hyosung America launched four new retail products: the Hero (MX5400), X10 Cash-In Sidecar (HK700), MetaKiosk (MX9700) and Cajera CR-E (MS500EL).
How has Hyosung evolved since entering the U.S. market in 1998?
“Since our early beginnings, our focus on engineering innovation and our willingness to partner with our customers have been key differentiators,” Nolan said. “Our unique designs invented the retail ATM market here in the late 1990’s, growing to 70%+ market share. Now, just two decades later, we’ve grown to dominate in the banking space with cash recycling solutions, software, and managed services.”
Why did Hyosung choose Dallas-Fort Worth for its U.S. HQ?
“DFW is a hotbed for banking and technology talent and the central location makes it easy for us to get to our customers—and for our customers to get to us,” Nolan said. “Since opening our new Customer Experience Center here in early 2021, we’ve hosted hundreds of customers, prospects, and partners. It’s a really cool place to show what we’re all about, ideate, and innovate with our customers.”
And experiences, Nolan says, are key to Hyosung’s new brand identity.
“Top global brands don’t enable experiences, they make experiences,” he said. “We’re choosing to take a leadership position by challenging our role in the marketplace and continually reinventing our company from the inside out.”
Nolan says three key things set Hyosung Innovue apart from competitors.
“It’s all about simplicity, innovation and our diversity of solutions,” he said. “Our modular device designs enable ease of service, resulting in better overall platform availability. As a vertically integrated provider, we can move quickly to partner and adapt to the unique needs of all of our customers. And finally, our comprehensive solutions offering goes well beyond ATMs to include TCRs, smart safes, retail and banking kiosks, self-order and check-out, multi-vendor software, managed services, and more.”
More than just ATMS Looking to expand its services into new verticals such as hospitality and travel, Hyosung wants Americans to view its brand in a broader new way as well.
“While we are largely known as an ATM provider here in North America, globally, our business is much more diverse,” Nolan said of Hyosung’s platform of integrated products, services, and ideas. “Our path to success will be our story of value and in creating relationships that drive connection and loyalty.”
Hyosung Innovue says it will unveil several new “game-changing products and solutions” at the ATMIA conference February 7 in New Orleans.
Originally posted and created by Dallas Innovates, Quincy Preston contributed to this report.