India’s largest order for 600 Cash Deposit ATMs will now allow Indian consumers to deposit cash at the ATM beyond banking hours
In a typical branch, check and cash withdrawals make up more than 60 percent of transactions performed at the teller counter (Source: NCR internal study). With the adoption of NCR SelfServ intelligent deposit ATMs, SBI will be able to reduce long queues at its branch and will give its customers the flexibility to execute everyday cash deposit transactions beyond banking hours.
Migrating high volume deposit transactions from the branch to the ATM reduces cost significantly for banks. A single cash withdrawal or deposit transaction at the branch can be reduced by up to 75 percent. A normal withdrawal typically costs a bank between Rs. 40 to Rs. 45 per transaction, while the same transaction may cost about Rs. 10 to Rs. 15 at the ATM (Source: NCR internal study).
Mr. Jaivinder Gill, managing director for NCR India, said, “We are
delighted to work with SBI to lead the intelligent cash deposit
revolution in the country. The Retail Banking Report for Deposit
Automation and Recycling, 2012, indicates that some of the strongest
drivers of growth for cash deposit ATMs in
“As consumers do more through the ATM channel, it becomes imperative for financial institutions to ensure their ATM network is secure and constantly up and running. The NCR SelfServ 32 with its large cash holding capacity ensures higher availability, while its innovative security feature validates genuine and counterfeit notes before accepting or crediting, and further facilitates tracing every note to the depositor to counter frauds,” added Gill.
NCR’s solutions will allow SBI to offer an array of revenue generating and customer serving opportunities such as bill payments, funds transfer and remittance via traditional card-based or cardless approach, mobile phone top-up, and couponing – making everyday consumer interaction exceptional.
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NCR Corporation
Rakesh Aulaya, +91 022 6195 4583
rakesh.aulaya@ncr.com
or
Jeff
Dudash, 919-435-6976
jeff.dudash@ncr.com