Development Bank of Singapore (DBS), a leading Asian bank with 200 branches in 15 markets, is implementing Wincor Nixdorf's Cash Cycle Management Solutions concept in its newly designed flagship branch in the Marina Bay Financial Center Singapore (MBFC).
The completely renovated branch, equipped with 22 CINEO systems from automated teller safes to cash recycling systems, will officially open on Wednesday, October 17, and serve as a blueprint for the bank's branch network.
As its innovation partner, Wincor Nixdorf has helped DBS develop its new branch concept, implementing a customized model for automating cash processes at the counters and in the self-service zone.
DBS, with more than 4 million customers in Singapore alone, aims to largely eliminate waiting times through modern processes and technologies by accelerating the processing of standard transactions at the counter and thus free up more time for individual customer consulting. In addition, customers will be able to process a number of transactions around the clock in the self-service zone.
Customers and employees alike benefit from simple and quick counter processes. Automated teller safes with recycling functionality take over the time-consuming task of counting and verifying banknotes, significantly reducing the time required by tellers to perform these tasks at the beginning and end of their shifts. In the self-service zone, customers can use state-of-the-art systems for a variety of tasks such as depositing and withdrawing cash in addition to managing their savings accounts.
Following the launch phase, DBS plans to further optimize its cash processes. CINEO systems, with their standardized banknote cassettes, allow cash reserves from deposit-centric teller safes and cash recycling systems to be used to replenish withdrawal-centric systems, thus reducing the time and cost of handling cash.
Koh Cheng Hwee, Head of DBS Franchise, says "Wincor Nixdorf's Cash Cycle Management Solution concept ideally complements the bank's innovation strategy. The early experience from the soft-opening phase shows that we have been able to significantly improve customer service in both the branch and self-service zone with CINEO sysystems. DBS is looking forward to optimizing cash management in the branch according to the CCMS approach to reduce the time and cost of cash handling."
Wincor Nixdorf also provides IT services for DBS, comprising first and second line maintenance. The entire IT infrastructure, which consists of 638 DBS multivendor self-service systems, is linked remotely to the control tower (eServices Platform) in Singapore. As soon as problems are detected, targeted measures are initiated to remedy them either remotely or on site. In addition, Wincor Nixdorf provides quality reporting on the agreed service levels. System availability and processing times can thus be significantly improved.
"It was DBS' desire to innovate and transform their branch banking business that led us to thinking harder and working together as a team to design the solutions implemented at MBFC. The result was a combination of state of the art technology at the counter and self-service areas, practical innovation throughout the customer journey and most importantly, a new way of handling and recycling the cash within the branch environment." says Ricardos Khoury, Regional Vice President for Banking in Asia Pacific at Wincor Nixdorf.