Breaking News

Japan July Industrial Output Rises 0.2% Against Estimated 1% Gain
Tweet TWEET

SBI Partners with NCR to Make Everyday Life Easy for Its Customers by Introducing Intelligent Cash Deposit ATMs

  SBI Partners with NCR to Make Everyday Life Easy for Its Customers by
  Introducing Intelligent Cash Deposit ATMs

    India’s largest order for 600 Cash Deposit ATMs will now allow Indian
          consumers to deposit cash at the ATM beyond banking hours

Business Wire

MUMBAI, India -- April 03, 2013

To enhance its customer service experience, State Bank of India (SBI), India’s
largest bank, has chosen NCR Corporation (NYSE: NCR), India’s largest ATM
manufacturer and service provider, to deploy 600 NCR SelfServ 32 Intelligent
Cash Deposit ATMs across India. This order is the country’s largest single
order for cash deposit ATMs.

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 India are ‘queue reduction’ and ‘customer demand.’ The report further
predicts that the installed base of ATMs in India with automated deposit
functionality is expected to grow five folds reaching 17,000 by 2017 – clearly
indicating a trend of increasing consumer demand for counter-based
transactions to be available 24x7 on the self-service channel.

“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.

About NCR Corporation

NCR Corporation (NYSE: NCR) is a global technology company leading how the
world connects, interacts and transacts with business. NCR’s assisted- and
self-service solutions and comprehensive support services address the needs of
retail, financial, travel, hospitality, gaming, public sector, and telecom
carrier and equipment organizations in more than 100 countries. NCR
(www.ncr.com) is headquartered in Duluth, Georgia.

Follow us on Twitter: @NCRCorporation

Like us on Facebook: http://www.facebook.com/ncrcorp

Connect with us on LinkedIn: http://linkd.in/ncrgroup

Watch us on YouTube: www.youtube.com/user/ncrcorporation

NCR is a trademark of NCR Corporation in the United States and other
countries.

Contact:

NCR Corporation
Rakesh Aulaya, +91 022 6195 4583
rakesh.aulaya@ncr.com
or
Jeff Dudash, 919-435-6976
jeff.dudash@ncr.com
 
Press spacebar to pause and continue. Press esc to stop.