News

University offering image-based ATM deposits to students

October 25, 2004

DAYTON, Ohio - The University of Delaware has become the first university in the nation to offer new image-based ATM deposits to its students.

The university, in partnership with Cash Connect, a division of WSFS Bank, has introduced NCR Corporation's Personas M Series ATMs with "no envelope" deposit technology.

Jennifer McCollum, vice president of WSFS Bank and relationship manager for the University of Delaware, said in a news release that student acceptance of the new service has been "overwhelming."

With NCR's certified "no envelope" deposit technology, one or more checks, or a stack of cash, are accepted directly into a slot on the ATM.  An image of deposited check(s) appears on the screen and is also printed directly on the receipt. A tally of deposited cash is also listed by denomination.

"This move is part of WSFS' upgrade strategy to bring the bank of the future to its customers today," said Tom Stevenson, president of Cash Connect. "With the Check 21 law taking effect this week, image-based functionality will continue to grow in importance. NCR's technology enables greater interaction speed and convenience for ATM users, while setting the stage for improved back-office savings and operational efficiencies."

According to Mario Perottino, director of Americas Marketing for NCR's Financial Solutions division, all major EFT networks have certified NCR's no envelope deposit software. "It is now an available option for more than half of the ATMs in United States operated by ATM processors," he said.