October 11, 2010

ATM maker NCR, with help from Wells Fargo, has unveiled a new module for its SelfServ 30 ATM that accepts checks and dollar bills as deposits, quickly and in random order. On the customer's receipt are printed both sides of all the deposit items. NCR calls this feature "intelligent deposit."

NCR says its new machine can completely handle envelope-free deposits in 60 seconds, which should reduce the length of ATM lines and potentially enable banks to take out tellers. Consumers can deposit up to a total of 50 checks and notes in a single transaction.

One group that stands to benefit from the new module, according to Bob Tramontano, vice president of marketing, is small businesses such as cab drivers and store owners. Instead of having to take a long break to go to the bank to deposit checks, such merchants can make deposits at an ATM on the way home from work.

The new deposit technology truncates checks and stores them in a safe, eliminating the need for daily pick up. According to NCR, it also use a simple media path that reduces jams and features intuitive LED indicators to make it easier for bank staff to service the module without a maintenance call.

The imaging technology NCR uses to capture the checks and cash is its own, based on its larger check processing transports.

NCR says its SelfServ ATMs have been purchased by more than 680 financial institutions in more than 110 countries around the world.

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