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Chase accelerates roll out of no-envelope ATMs with NCR, Wincor
November 27, 2007
NEW YORK - Chase says it plans during the first half of 2008 to deploy 900 no-envelope ATMs that can accept up to 30 checks per deposit. The bank's expectation is to upgrade or replace its 5,000 deposit-taking ATMs by 2010.
"We can make banking faster and more convenient for our customers - consumers and businesses alike - while reducing our costs," said Charlie Scharf, chief executive of retail financial services at Chase. "The continually improving capabilities and reliability of no-envelope ATMs convinced us to accelerate our rollout."
The ATMs can accept stacks of up to 30 checks or 50 bills in one deposit. Deposited amounts are displayed on the ATM's screen and printed on the receipt.
According to a news release, deposit volume at Chase has increased by more than 50 percent at some of the 50 no-envelope ATMs the bank has been piloting.
Chase says it now can give customers same-day credit for deposits made at the ATM.
In the rollout's first phase, Chase will deploy 600 multicheck ATMs from Wincor Nixdorf International. Wincor Nixdorf also will provide software for each of Chase's 9,000 ATMs in 20 states.
Additionally, Chase expects to install multicheck ATMs from NCR Corp., the bank's primary supplier. NCR also will provide the back-office software to process the check images.
Chase and NCR have joined forces to develop a next-generation ATM Monitoring platform as well.
Banking Executive SummaryDepositsTrends / StatisticsManufacturersOtherNorth AmericaPublic CompaniesBank / Credit UnionWincor Nixdorf International
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