Traditionally ATM's only dispense cash - but there is also a demand throughout the world for ATM's to accept cash - large amounts of cash - and typically at the end of the day for small businesses that handle many cash transactions. The ability to accept bundles of checks and have them immediately credited to account, or cashed, is also a benefit for small businesses owners and consumers. This new ATM provides both these capabilities.
The pocket interface on the cash recycler means larger amounts of cash can be deposited than on a traditional slot-based ATM interface. This is particular of benefit for small business owners who at the end of the working day want a quick and secure method of depositing their days takings and have them credited immediately to their account - similarly with checks.
This ATM ensures that Banks can support their traditional customers, and their business banking customers extended needs, wherever and whenever they need. The cash recycling and check deposit technology means banks can provide better ATM availability to their customer's enabled by longer periods between replenishment's and service intervals. Patented technology within the recycler and cheque depository enable scalable capacity, modular re-configuration, enhanced security, and reliability - in a compact footprint. Enhanced software cash management tools and telemetry allow for easy and speedy remote, or in-field, service. This ATM's reliability (measured in Mean Time Between Failures) is 1 in 80,000 transactions!
The primary method of interaction with the ATM is intended to be a digital transaction via the consumers own mobile device that can be used to pre-stage a transaction and so reduce their time at the device. A pre-staged transaction via a mobile phone effectively makes the ATM able to be a non-touch Self Service device - the user only having to deposit or remove the cash from the pocket or insert a bundle of checks. Other methods are more traditional with bank card and pin pad - but encrypted screen technology, contactless card initiation and non-touch biometrics are also available features that enable the interface to be "touch-less". The lower flatter consumer transaction display gives users a greater sense of privacy and security - and because it is can be dedicated to the transaction rather than interspersed with marketing messages - ( should the bank choose too) it is a better consumer experience. The ability to call on assistance or discuss a banking matter via the upper display provides a more naturally positioned face to face interaction and is a feature that consumers value.