First bank in China to deploy NCR APTRA OptiCash software to optimize
cash and achieve the right balance of cash throughout its ATM network
BEIJING--(BUSINESS WIRE)--Aug. 24, 2015--
NCR
Corporation (NYSE: NCR), the global leader in consumer transaction
technologies, today announced that Industrial and Commercial Bank of
China Zhongshan Branch (“ICBC Zhongshan”) will expand its use of NCR
APTRA OptiCash software to cover its entire network of 600 ATMs. The
project’s initial phase, delivered in a cloud-based software
environment, demonstrated a reduction in operation costs and cash
inventory, as well as maintaining high ATM availability across the
bank’s 200 off-site ATMs.
ICBC Zhongshan commenced the pilot for NCR APTRA OptiCash service
platform in January 2015 and has achieved more than 20 percent cost
savings on cash management services from January to April 2015 as
compared to the same period last year.
“China is a country with intensive cash in circulation and banks are
bearing a very high cost in cash management. In view of the interest
rate liberation, banks in China have to transform the traditional manual
approach of cash management to improve operational efficiency,” said
Gary Miao, president of Financial Services, NCR Greater China. “NCR is
proud to have ICBC Zhongshan as the first bank in China to deploy our
cash management solutions. It is imperative for financial institutions
to understand the value and cost efficiency that an effective cash
management strategy brings. We look forward to working with more banks
in China by leveraging our solid global expertise and innovative
solutions in order to achieve higher ATM availability and cost savings.”
Prior to the adoption of NCR cash management solutions, ICBC Zhongshan
used to manage cash relying heavily on short-term data forecasts and the
experiences of certain staff members to make daily cash replenishment
visits. In the face of the ever-increasing transaction volume and the
bank’s goal to improve precise management, ICBC Zhongshan turned to NCR
APTRA OptiCash, a cash optimization solution that forecasts individual
requirements for each cashpoint in the network. It analyses data
directly from the ATM or from existing infrastructure sources to
generate a forecast and cost optimized replenishment strategy for every
cashpoint, taking into account cost factors, servicing constraints and
capacities.
According to the ATM Industry Association (ATMIA), cash management
accounts for nearly 30 percent of an ATM’s annual expenses. They also
estimate that effective cash management strategies can save a financial
institution from US$3,000-US$10,000 a year within a branch.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction
technologies, turning everyday interactions with businesses into
exceptional experiences. With its software, hardware, and portfolio of
services, NCR enables more than 550 million transactions daily across
retail, financial, travel, hospitality, telecom and technology, and
small business. NCR solutions run the everyday transactions that make
your life easier.
NCR is headquartered in Duluth, Georgia with over 30,000 employees and
does business in 180 countries. NCR is a trademark of NCR Corporation in
the United States and other countries.
Web sites: www.ncr.com,
www.ncrsilver.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation
View source version on businesswire.com: http://www.businesswire.com/news/home/20150824005610/en/
Source: NCR Corporation
NCR Corporation
Winnie Sze, 852 2975 6948
winnie.sze@ncr.com