Metro Bank PLC, an independent United Kingdom-based financial institution, has purchased teller cash recyclers from NCR Corp.
Metro Bank bought the NCR Cash Recycler, one of two models manufactured by NCR, which is based in Duluth, Ga.
The bank has deployed the machines in three branches so far, and it will install a fourth at another location later this month, said Cameron Smith, an NCR spokesperson.
The bank plans to open 12 additional branches in the next two years throughout Greater London. Metro Bank's ultimate goal is to open more than 200 branches. Smith declined to disclose the number of cash recyclers Metro Bank will purchase from NCR.
The cash recyclers are designed to improve bank-branch efficiency.
"Up to 40 percent of a teller's time is spent counting and re-counting cash at traditional teller lines," NCR officials said. "Metro Bank has cut this significantly with NCR's teller cash recyclers, which automate the acceptance, authentication and validation of note deposits and make cash instantly available for dispensing to customers."
The cash recyclers operate with NCR APTRA Cash Connect software, which reduces the time taken for start- and end-of-day balancing by giving each teller an instant, individual cash-drawer balance, NCR officials said.
Metro Bank, the U.K.'s newest bank in 100 years, recently purchased ATMs from Wincor Nixdorf AG, which is based in Paderborn, Germany.
Wincor Nixdorf will deploy 120 ATMs over the next two years for Metro Bank, which opened July 29, said Paul Price, Wincor Nixdorf’s senior account manager.
NCR is the world's largest ATM manufacturer based on annual shipments.
