Bradesco (BBDO), one of the largest financial institutions in Brazil, will begin piloting new technology from NCR Corporation (NCR) in order to give customers immediate account credit for cash deposits made at the ATM.
The new technology from NCR, the global leader in consumer transaction technologies, will eliminate the use of envelopes for cash deposits, making Bradesco one of the first financial institutions in Brazil to incorporate intelligent deposit into its ATM channel.
Both account holders and non-account holders of the bank will benefit from this new technology. Account holders will have the deposit amount instantly credited into their accounts, even on weekends. Non-account holders no longer need to go to a teller to deposit cash.
Bradesco began this pilot in June at its Bradesco Next branch in São Paulo.
"With NCR's technology, Bradesco takes the lead once again and inaugurates this new service in Brazil," said Elias Silva, vice president of NCR Latin America and Caribbean. "Bradesco is consistently a pioneer in using technology to deliver quality services throughout the country."
The ATMs specially developed by NCR for Bradesco have technology that combines hardware produced in Brazil at the company's factory located in the City of Manaus, State of Amazonas.
"Putting a stack of cash directly into an ATM, without using envelopes, and crediting the amount online into the account makes sense for clients' lives. And that's our goal: to improve our clients' lives through improved access to their financial needs," said Luca Cavalcanti, director of Digital Channels at Bradesco.
Bradesco and NCR also are working to extend real-time deposits to checks, as well. This new model will help to reduce the waste of envelopes used in ATM deposits, give customers dramatically improved access to their funds, and decrease costs.