Diebold brings cash recycling and auto deposit tech to Brazil
28 August 2014 | 2649 views | 0
Working with Diebold, Incorporated (DBD), Brazilian automated teller machine (ATM) network provider, Saque e Pague, is delivering a range of financial self-service capabilities never before available to consumers and financial institutions in Brazil.
The country's first deposit automation- and cash recycling-enabled ATMs are helping Saque e Pague rapidly grow its network, which recently surpassed its millionth transaction, to help reach previously underbanked regions in the country.
Deploying cash recycling at the ATM allows Saque e Pague to expand into new markets with limited financial service options. As cash recycling extends ATM uptime, the network provider and its financial institution partners can deploy terminals in remote areas that were previously uneconomical to service, thereby reaching underbanked populations.
"Deposit automation and cash recycling technologies are enabling us to grow our ATM network and reach new markets," said Givanildo da Luz, president, Saque e Pague. "We're also implementing additional self-service capabilities such as bill payments and prepaid card replenishments to deliver even greater convenience at the ATM."
Working with Diebold, Saque e Pague ATMs' cash recycling functionality allows consumer-deposited cash to be automatically reused to improve ATM uptime and reduce the frequency and cost of cash replenishment visits. Extending the cash cycle also reduces risk for financial institutions and retailers, as fewer service trips help to limit cash exposure.
"By deploying sophisticated self-service technology, Saque e Pague is delivering improved efficiencies to financial institutions and retailers, as well as enhanced services to consumers," said Joao Abud Jr., president, Diebold Brazil. "The automated deposit and recycling capabilities of the ATMs raise the bar for other network providers and financial institutions in Brazil."
In addition, the ATMs' deposit automation technology allows consumers to manage streamlined cash and check deposit transactions without using a deposit slip or envelope. Checks are scanned and verified remotely, reducing processing costs for financial institutions and giving them the option to grant consumers immediate access to deposited funds.