Expanding a partnership that brought deposit automation to the automated teller machine (ATM) in 2005, Diebold, Incorporated (DBD) and Suncoast Credit Union are again revolutionizing the self-service channel.
Diebold and Suncoast, supported by FIS, will enable full cash recycling at the ATM with Diebold's Opteva® Flex Performance Series ATMs. This will allow the ATMs to reuse consumer-deposited cash for future withdrawals, enhancing ATM availability and reducing the frequency and cost of cash replenishment visits.
"Diebold and Suncoast have been leading the evolution of the self-service channel to a more efficient platform for consumers and financial institutions," said Mychal D. Kempt, vice president, North America operations, Diebold. "FIS' involvement adds full support from a leading processor, bringing fully-automated cash recycling to fruition in the United States."
Suncoast, Florida's largest credit union and the 14th largest in the United States, is working closely with Diebold to develop and test cash recycling functionality.
"The ability of an ATM to process deposited cash and reuse it later is an exceptional innovation that will streamline self-service cash management and improve our ATM uptime," said Dulcey Hordge, vice president of document services, Suncoast. "We foresee impressive savings potential for our locations that experience heavy cash transaction volumes."
FIS, the world's largest banking and payments technology provider, is designing and implementing the back-end processing required to facilitate full cash recycling.
"FIS will address the complexities of enabling cash recycling by integrating accounting, balancing and processing functions between the ATM and Suncoast's systems," said Bruce Lowthers, executive vice president, North American Card Solutions, FIS. "We anticipate a successful launch of the technology."
Diebold's Opteva Flex Performance Series ATMs have a recycling capacity of up to 10,800 notes and accept deposits of up to 13,100 notes in a five-cassette configuration.
Following final testing and certification, Suncoast plans to implement Opteva Flex Performance Series ATMs withh full cash recycling and deposit automation capabilities and the latest ATM security at select branches.