News

Second company adopts CINEO cash recycler standard

September 26, 2012

With the introduction of its Banqit Q-CashRouter, self-service equipment provider Banqit AB has become the second company to integrate Wincor Nixdorf CINEO cash-recycling technology into its own systems. The Banqit move supports Wincor's promotion of a standard for cash recycler specifications, which would ensure cassette interchangeability throughout cash management systems.

BANQIT AB and Wincor Nixdorf signed a cooperation agreement at the beginning of 2012 that allows the Swedish company to use Wincor Nixdorf's Cash Cycle Management Solutions concept. The first vendor to adopt the CINEO solution, Giesecke & Devrient, introduced its CINEO-equipped system in 2011.

Wincor Nixdorf's cash cycle management system allows the exchange of CINEO cassettes between ATMs, cash recycling systems and automated teller safes. "Integrating the intelligent CINEO cassette technology from Wincor Nixdorf into the Q-CashRouter provides banks with decisive benefits such as lower cash handling costs, improved processes and greater security," said Leif Lundblad, CEO and founder of Banqit AB.

"The successful cooperation with BANQIT shows that, together with another manufacturer, we have come a huge step closer to fulfilling the demand for standardization from the banks and central banks and hence paved the way for process optimizations in cash handling," said Uwe Krause, vice president of banking at Wincor Nixdorf.

The Banqit AB Q-CashRouter will be on exhibit at Wincor World, the Wincor Nixdorf trade fair, which takes place October 16–18 in Rheda-Wiedenbrück, Germany.

For more on this topic, visit the vault cash/cash management research center.