NCR Corporation has teamed up with US-based PIN-secured payments network Star Systems to bring advanced deposit technology to automated teller machines.
The new deposit solution, which utilises NCR's Aptra software suite, enables a customer to deposit cash or cheques directly into an ATM without an envelope. The deposit amount is verified on screen, displaying the cheque or cash amount visually. Customers will also be able to receive printed receipts showing images of the cheques.
The automation offers substantial cost-reduction opportunities for institutions by reducing cash-in-transit, envelope and cheque-handling expenses, say the companies.
Ronald Congemi, president of the Star network, says: "New ATM technologies are giving us the opportunity to process deposits more efficiently. These features will certainly help an ATM owner to differentiate itself in the marketplace by accelerating the availability of deposits in a customer's account."
The new deposit solution will be jointly marketed to prospective financial institutions, retailers and independent ATM deployers. The Star network currently processes 5 billion transactions a year via nearly 6200 participating financial institutions from almost one million ATMs and retail locations.