News

Chinese bank simplifies ATM key management with software-based solution

A software-based lock management solution offers China Merchants Bank a new level of speed and security for ATM replenishment and service, NCR says.

September 22, 2014

China Merchants Bank will implement the Dynamic eLock Management solution from NCR Corp. The software-based ATM electronic key management solution will help the bank centralize the management of safe box keys and passwords across its ATM network of more than 10,000 units, a press release said.

NCR will customize development and implementation of the solution, which is expected to be live nationwide by the end of the year.

Designed especially for the Chinese market, NCR Dynamic eLock restricts access to an ATM’s safe boxes, allowing entry only to authorized users who hold an integrated chip smart key and a one-time password.

Electronic smart keys embedded with IC cannot be read without authorization, which can eliminate the risk of key replication. It also eliminates the need to change safe box lock password regularly.

The solution is multivendor compliant (in fact, none of the CMB ATMs are NCR branded), and supports various safe standards and lock types. It also connects with the bank’s cash management and monitoring systems for easy upgrade and development, according to the company.

In the past, CMB used mechanical password locks, a system in which each lock was paired with a mechanical key and password. The manual dissemination and management of keys and passwords generated high operational costs for cash replenishment and ATM servicing, NCR said. Additionally, risks and costs were involved at the time of password change and key storage.