Dubai Islamic Bank has signed a $1.1m contract with US-based NCR Corporation for the supply of the vendor's Personas cash machines and ATM maintenance services.
Under the terms of the deal, NCR will provide the bank with ATMs, software installation, second line maintenance, camera security and other professional services.
The contract includes supply of the vendor's new Personas 79 lobby deposit terminals, which enable customers to deposit cheques or cash directly into the ATM.
NCR's Aptra software captures a digital image of deposited cheques, which is displayed on the screen for customer verification and also printed directly on the receipt. The unit includes NCR's iTran 1000 ATM Check Processor system which can process and store up to 1100 cheques in three separate compartments.
Any notes deposited are validated and sorted and the amount is printed on the customer's receipt.
Musabbah Al Qaizi, vice president of IT for Dubai Islamic Bank, says the deposit technology "is helping us maximise the value we receive from the ATM channel".
Jeff Lutz, VP, global sales and marketing for NCR's Financial Solutions Division, claims an estimated 40 to 60% of all branch activity involves the acceptance and processing of deposit transactions, so any progress in automating that process will result in significant cost savings for the bank.