NORTH CANTON, Ohio — Diebold Inc. has added VALID Systems' check-cashing solution to its portfolio of managed services, offering financial institutions with a low-risk, low-cost-of-entry solution for broadening check-cashing services for non-bank customers.
VALID's Internet-driven verification system allows tellers to quickly enroll consumers for check-cashing services, which can then be performed at the teller or through a deposit-capable ATM.
"This new check-cashing solution opens the door to a realm of new consumers, many of whom were turning to check-cashing businesses," said Charles E. Ducey Jr., senior vice president of global development and services for Diebold. "Offering this service at the branch and ATM can generate a consistent revenue stream for the financial institution, while presenting a much more cost-effective, check-cashing option to the consumer.
In addition to enhancing the teller interaction, the VALID check-cashing solution leverages existing deposit-automated ATM infrastructures and provides an additional cost justification for FIs still considering the value of deploying automated deposits at their ATMs.
Margaret Bost, director of financial-industry marketing for Diebold, will join VALID Systems today at the Underbanked Financial Services Forum in Miami to discuss how banks can use Diebold and VALID products to optimize their teller and ATM channels.
