Development Bank of Singapore, an FI with four million customers and 200 branches in 15 markets, is implementing Wincor Nixdorf Cash Cycle Management Solutions concept in its newly designed flagship branch in Singapore's Marina Bay Financial Center. Wincor Nixdorf helped DBS develop its new branch concept, implementing a customized model for automating cash processes at the counters and in the self-service zone. The updated location will serve as a blueprint for the bank's branch network.
The completely renovated branch opened on Oct. 17, 2012, equipped with 22 CINEO systems ranging from automated teller safes to cash recycling systems. Their standardized banknote cassettes allow the use of cash reserves from deposit-centric teller safes and cash recycling systems to replenish withdrawal-centric systems, thus reducing the time and cost of handling cash.
"Wincor Nixdorf's Cash Cycle Management Solution concept ideally complements the bank's innovation strategy," said Koh Cheng Hwee, head of DBS franchise. "The early experience from the soft-opening phase shows that we have been able to significantly improve customer service in both the branch and self-service zone with CINEO systems. DBS is looking forward to optimizing cash management in the branch according to the CCMS approach to reduce the time and cost of cash handling."
"It was DBS' desire to innovate and transform their branch banking business that led us to thinking harder and working together as a team to design the solutions implemented at MBFC," said Ricardos Khoury, regional vice president for banking in Asia Pacific at Wincor Nixdorf. "The result was a combination of state-of-the-art technology at the counter and self-service areas, practical innovation throughout the customer journey and most importantly, a new way of handling and recycling the cash within the branch environment."
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