Wincor Nixdorf Inc. (Austin, Texas) has launched its CINEO System Family, part of the company’s Cash Cycle Management solutions portfolio, to the U.S. retail banking market. The Cash Cycle Management solutions portfolio is designed to automate cash processes in banks and retail enterprises and to shorten the cash logistics chain through a banknote storage concept that has been standardized for use in banking and retail scenarios.
The CINEO family of solutions is designed to directly impact the cost and risk of cash handling, which is estimated to be as much as $73 billion in the U.S. today. Additionally, manual cash handling and current associated processes contribute to increased risks for retail banks. According to Wincor Nixdorf, implementation of the CINEO solutions can reduce these costs by more than 20 percent.
The CINEO portfolio includes automated teller safes, cash recycling systems, ATMs, and transaction terminals, as well as software and services. The first solution available in the U.S. is the CINEO C6030 Teller Cash Recycler.
According to Wincor Nixdorf, the banknote storage concept makes it possible to exchange cassettes between devices from the new CINEO system family. A memory chip in the cassette provides information about both the level of cash inside, and where and when the cassette was used or opened. This means banknotes that are deposited at the counter in a bank branch and stored in intelligent cassettes in an automated teller safe can be made available again for dispensing from ATMs. “By completely automating the cash cycle processes between the various different cash points in the branch, and eliminating the need for cash to be manually handled, our CINEO solutions save time and money, and maximize security across the branch, ” Patrick Wright, President and CEO of U.S. Operations, Wincor Nixdorf, Inc., said in a press release.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio