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Ecuadorian FI extends service to unbanked with cash-recycling ATMs
The technology will allow Banco del Pacifico to expand into underbanked regions by reducing the frequency and cost of cash replenishment visits.
December 2, 2014
Banco del Pacifico and Diebold Inc. have announced plans to introduce cash recycling technology in Ecuador. The move is a second "first" for the two, who partnered in 1979 to install the first ATM in South America, according to a news release.
The current deal includes more than 200 new units mixed between cash-dispensing and cash-recycling ATMs.
Cash recycling technology will allow Banco del Pacifico to expand into underbanked regions by reducing the frequency and cost of cash replenishment visits, according to the Diebold release.
"Introducing cash recycling at the ATM reduces our cash management demands, allowing us to expand to remote, underbanked communities we were previously unable to serve," Banco del Pacifico CEO Efrain Vieira said.
The FI also is deploying Diebold RemoteTeller System stations at selected locations. The tellerless branches employ pneumatics and two-way video that allows tellers to service multiple customers from a remote branch.
RTS integration makes the branch a less attractive target for criminals, as tellers and assets are less accessible and all transactions require a video interaction that can easily be recorded, the release said.
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