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Nedbank adds 250 teller cash recyclers in branch transformation effort

The NCR machine automates the acceptance, authentication and validation of bank notes and makes them instantly available for dispensing to customers.

August 7, 2015

Nedbank Group, one of South Africa's four largest banking groups, is adding 250 NCR Cash Recycler 11 units to its network across the country, working with Bytes Managed Solutions, the exclusive NCR Corp. distributor in South Africa and neighboring countries.

NCR Cash Recycler 11 automates the acceptance, authentication and validation of bank notes and makes them instantly available for dispensing to customers. According to an NCR press release, the teller cash recyclers can reduce cash deposit transaction times by up to 50 percent and cash dispensing transaction times by up to 40 percent.

Nedbank is using the recyclers to transform its branches, creating a modern and open plan free of security-glassed teller booths.

"There is a growing trend for financial institutions to transform their branch banking experiences with new technologies," said Dimitri Kanellopoulos, country manager for NCR South Africa. "The NCR teller cash recycler transforms [the] branch experience by enabling tellers to interact with customers face-to-face without any boundaries. We have seen 20 to 40 percent increase in sales activities when implemented correctly."

Alan Anderson, business development director of Bytes MS said that apart from improving branch efficiency, the recyclers also enhance security since all counting and verification is conducted inside the recycler, minimizing the time that cash is exposed.

"When the cash recyclers are used in conjunction with cash management software, it can also ensure a more productive banking experience for the customers," he said.