NCR demonstrates Intelligent Deposit tech for ATMs

NEW DELHI: IT solution provider NCR Corporation (NCR) demonstrated its new self-service cash and cheque deposit modules at a roadshow in New Delhi.

Targeted at the Indian ATM industry, NCR's Intelligent Deposit technology automates both cash and cheque deposit transactions at the ATM.

The company's latest cash acceptor and cheque processor technology enables direct, envelope-free deposit of both cash and cheques into the ATM. As the module validates the notes in real-time, the total value of the authenticated cash can be credited immediately to the customer's account. A receipt is also issued, which includes an itemized breakdown of the denominations and totals of the notes deposited.

NCR also demonstrated the ability to deposit cheques directly into the ATM. The NCR cheque processor scans the cheque and actively reads the Magnetic Ink Character Recognition (MICR) code present on the cheque to validate its authenticity. The ATM screen displays the scanned image for validation by the consumer. This scanned image together with the MICR codeline can be sent to a bank's service center to improve payment processing. Using NCR's patented 'Cheque Image on Receipt' technology, a receipt is printed which also includes an image of the deposited cheque(s).

“NCR intelligent deposit solutions allow banks to leverage the latest ATM technology and automate typical teller transactions in a more cost-effective manner. Banks are facing the challenge of how to migrate more transactions to the ATM channel and to reduce the cost of back-end operations. With the help of the solutions that we have demonstrated today, banks can achieve this, with added convenience for their customers.”

“With RBI's move towards image based inter-bank cheque clearing system, NCR's cheque deposit module can be combined with NCR's cheque truncation automation solution to offer faster cheque clearances, with intercity cheque clearance time reduced to 48 hours from the present 15-20 days,” said Geet Lulla, NCR Corp. country manager - sales.

NCR also demonstrated APTRA Promote, a software applications that enable banks to run marketing and advertising campaigns on their ATM machines. These campaigns may include high impact video, sound, graphics and even promotional campaigns that need coupon dispensing. NCR, the first vendor to introduce airline reservation through ATMs, also showcased ATM-based airline booking for the first time in Delhi.

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