News
Diebold subsidiary lands transaction processing client
May 18, 2003
NORTH CANTON, Ohio -- Richton Bank and Trust, a $70 million financial institution with four branches in Mississippi, will use Diebold Transaction Services, Inc., a Dieboldsubsidiary, to handle processing for its ATM network.
According to a news release, Diebold Transaction Services will manage the ATMs, settlement and authorization. After converting to Diebold Transaction Services, Richton Bank will issue its first MasterMoney debit cards.
A Diebold Transaction Services' Web site provides instant access to transaction and terminal information through Diebold Transaction Services' Web browser client interface.
William S. Granberry Jr., executive vice president for Richton Bank and Trust, said in the release that outsourcing its processing to Diebold would save the bank money and reduce the amount of time needed for back-office operations.
Before converting to Diebold Transaction Services, Richton Bank and Trust employees performed tedious daily reconciliation processes, including general ledger entries, according to the release. The manual entries are now automated by Diebold's daily settlement services.
John H. Tyler, Diebold's vice president of Software and Services, said in the release that the new subsidiary offers customers the advantage of outsourcing while still allowing them to retain in-house control of their ATM networks.
In addition to driving both Diebold and non-Diebold ATM terminals, Diebold Transaction Services also handles transaction authorization, daily settlement and funds transfer, as well as daily reporting and file transfer.
According to the release, Diebold's transaction processing software supports multiple connectivity options, screen customization and branding and advanced ATM functions, such as audio, color touchscreens, MPEG full-motion video and coupon distribution.
Packaged with Diebold Transaction Services is Diebold Advisor, an ATM monitoring, notification and dispatch service.
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Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
