News

SBI teams with NCR to introduce intelligent deposit ATMs

April 4, 2013

The State Bank of India, India's largest bank, has chosen NCR Corp., India's largest ATM manufacturer, to deploy 600 NCR SelfServ 32 intelligent cash deposit ATMs across the country. The SBI order is India's largest yet for intelligent deposit ATMs.

In a typical branch, check and cash withdrawals make up more than 60 percent of teller-assisted transactions, according to an NCR study. Intelligent deposit ATMs will allow SBI to reduce long lines at its branch and offer customers the convenience of after-hours cash deposit.

Intelligent deposit will also allow SBI to decrease operating costs. A teller assisted withdrawal normally costs a bank 40–45 rupees (73–82 cents) per transaction, while the same transaction may cost about 10–15 rupees (18–27 cents) at the ATM, said a news release from NCR.

"The Retail Banking Report for Deposit Automation and Recycling, 2012, indicates that some of the strongest drivers of growth for cash deposit ATMs in India are 'queue reduction' and 'customer demand'," said Jaivinder Gill, managing director for NCR India.

"The report further predicts that the installed base of ATMs in India with automated deposit functionality is expected to grow five-fold reaching 17,000 by 2017 — clearly indicating a trend of increasing consumer demand for counter-based transactions to be available 24x7 on the self-service channel," Gill said.

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