Now, some Bank of Baroda ATMs recycle the deposited cash
Tokyo, July 28, 2014: Leading Indian leading public sector bank, Bank of Baroda (BoB) has become the first in the country to implement cash recycling at the ATM. This means deposited cash to be dispensed in future transactions. The bank has turned to Hiatchi-Omron Terminal Solutions and deployed their Cash Recycling ATM (HT-2845-V).
This reduces frequency of cash replenishment and cash loading in the machine, and also space of self-service terminals for cash deposit and withdrawal thereby improving efficiency of the bank’s cash operations.
BoB had installed 100 units of the Hitachi ATMs but they were operated only as a Bunched Note Acceptor (BNA) to deposit cash. BOB and Hitachi have jointly worked on the existing system to upgrade it successfully for cash recycling operations.
Says Kokichi Murayama, Operating Officer and General Manager Global Business Group of Hitachi-Omron Terminal Solutions: “We entered the Indian market in 2010 and have been constantly putting effort to introducing the concept of the most optimal solution for cash deposit. Now, I’m excited that we have started cash recycling operations with one of our premium customers, BOB, and believe our Cash Recycling ATM will contribute to improve efficiency of BOB’s operations.”
Hitachi-Omron Terminal Solutions is No.1 manufacturer of Cash Recycling ATMs in the world.
More information about the Hitachi-Omron Terminal Solutions here