Russia's largest bank opts for OKI G7 cash-recycling ATM

Nov. 15, 2012

Japanese manufacturer OKI Electric Industry has announced the delivery of its ATM-Recycler G7 cash-recycling ATMs to Alfa-Bank, Russia's largest private bank. Deliveries are scheduled to begin this month.

OKI introduced its cash-recycling ATM in 2010 and has successfully sold it into China and other markets. However, the Alfa-Bank sale marks the G7’s first installation in Russia — and, in fact, the first installation of any Japanese-made cash recycler in the country.

Alfa-Bank, part of the Alfa Banking Group (nearly $35 billion in assets), currently operates 2,700 ATMs in Russia. For its ATM network overhaul, the bank required a cash recycler that could handle not only rubles, but also widely used foreign currencies such as the dollar and the euro. The G7 can take up to 128 banknote denominations of multiple currencies, according to a news release from OKI.

The bank tested four G7 ATMs in trial deployments before moving to full-scale delivery. "The pilot project identified various benefits of deploying ATM-Recycler G7, including handling of multiple currencies and operating efficiencies, based on OKI's proven track record gained over 30 years," said Vilen Timiryazev, vice president and director of the processing center at Alfa-Bank.

"Under the pilot project, we also evaluated other features, including a feature allowing deposits and withdrawals of large sums of cash in single transactions, overall reliability as reflected in uptime rates, physical dimensions … that would allow installation in places occupied by current devices and flexible cassette composition that can be changed per places to be installed."

The OKI machines will be delivered through the company’s sales partner in Russia, Europeum, a provider of technologies and services for financial institutions in the country.

For more on this topic, visit the manufacturers research center.

Topics: Bank / Credit Union , Cash Dispenser / Recycler / Acceptor , Installation / Deployment , Manufacturers

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