After posting profitable second-quarter results, North Canton, Ohio-based Diebold Inc. says its envelope-free deposit technology for ATMs is being used by financial institutions in all 50 U.S. states and includes more than 150 patents.
This expansion of advanced functions at ATMs has spurred the adoption of more deposit technology, says Diebold's Chuck Ducey:
 | The design and functionality of Diebold's deposit-automation innovations are developed through ongoing research and usability studies conducted in the field to reveal the specific needs of financial institutions and their customers. For financial institutions, that equates to a solid return on their investment. With deposit automation, savings realized from the migration of routine transactions away from the teller line are only equaled by the savings from fewer deposit sweeps and the sharp reduction in costly back-end processing. |  |
Diebold says it has shipped more than 25,000 deposit-automation modules in the United States, enabling envelope-free deposits since 1999 and securing its first deposit-automation patent in 1995. The 2003 passage of the Check Clearing for the 21st Century Act, more commonly known as Check 21, which allows a digital check version to carry the same value as a paper check, has fueled greater deposit-automation adoption.
According to England-based Retail Banking Research Ltd., deposit automation is one of the fastest growing new ATM technologies in the world. RBR estimates that the number of deposit-automated ATMs went from 22,000 ATMs in 2003 to more than 96,000 in late 2007. That figure is expected to reach 687,000 by 2018.
Diebold's new rapid-processing technology includes any deposit-module combination for cash and checks in a single transaction through separate devices.
