News

Brazil's Bradesco piloting technology give customers immediate access to deposited cash

July 14, 2014

Bradesco, one of the largest financial institutions in Brazil, will begin piloting new technology from NCR Corp. that allows immediate accountholder credit for cash deposits made at the ATM.

The new technology will eliminate the use of envelopes for cash deposits, making Bradesco one of the first financial institutions in Brazil to incorporate intelligent deposit into its ATM channel.

Both accountholders and nonaccountholders will benefit from the new technology at Bradesco. Accountholders will receive immediate credit of deposited funds to their accounts, even on weekends; nonaccountholders will no longer need teller assistance to deposit cash.

“Putting a stack of cash directly into an ATM, without using envelopes, and crediting the amount online into the account makes sense for clients’ lives,” said Luca Cavalcanti, director of digital channels at Bradesco. "And that’s our goal: to improve our clients’ lives through improved access to their financial needs."

Bradesco began the pilot in June at its Bradesco Next branch in São Paulo. NCR specially designed the ATMs, incorporating hardware produced in Brazil at the company's factory Manaus, a city in the state of Amazonas.

Bradesco and NCR also are working to extend real-time deposits to checks, as well. This new model will help to reduce the waste of envelopes used in ATM deposits, give customers dramatically improved access to their funds, and decrease costs.

With more than 91,000 points of service, 78 million clients, 26 million account holders, Bradesco was pointed as the 6th most valuable brand bank in the world in 2011 in a survey conducted by Brand Finance consultancy in partnership with the British magazine The Banker.

Contact for press - NCR DFREIRE Comunicação e Negócios Débora Freire - debora@dfreire.com.br Flávia Cunha – flaviacunha@dfreire.com.br Phoe: +55 11 5505-8922