NCR used it’s experience in self-service and image item processing to review the entire ATM deposit process. The intent: make the experience better for the consumer and reduce the processing cost. This review proved that by using new technology and re-engineering the ATM deposit process we could make the process more assuring for the consumer and less costly for the financial institution. NCR has the Technology the financial institution needs for ‘No Envelope’ Intelligent Deposit ATMs—Today. For the past several years, some of the largest banks in the country have been deploying advanced ATM technology from NCR to eliminate the envelope from the ATM deposit.
Now that same technology is available to institutions of every size. No longer a development lab curiosity requiring significant R&D, it is available today in an off-the-shelf package—ready to run. And, every month more ATM network providers are offering the advanced functionality that enables ‘No Envelope’ Intelligent Deposit.
NCR SelfServe 30 Series ATMs
The NCR SelfServ 30 Series ATMs are capable of ‘No Envelope’ Intelligent Deposit through the use of the following state-of-the art modules: The Cash Acceptor and either:
– NCR Check Processor (for single check processing) or
– NCR Scalable Check Processor Module (for multiple check processing)
Using proven technology that leverages NCR’s expertise in self-service and check imaging, NCR brings to market a new solution—’No Envelope’ Intelligent Deposit—to provide our customers a unique opportunity to enhance their customer service and reduce the cost of processing transactions. Overcoming the mystery of what has been placed in a depository envelope and how best to process the contents present a significant improvement in workflow and consumer satisfaction. Immediate cash verification and control, which are the hallmarks of the lobby transaction, now accrue to the ATM. ‘No Envelope’ Intelligent Deposit process improves the consumer’s interaction with the ATM. We eliminate the deposit envelope and allow the consumer to enter the cash and checks directly into the ATM. There are a number of advantages that pass to the consumer and the financial institution as a result of the change.
Cash Only Deposit
The ATM is able to accept, validate and verify the cash portion of the deposit. The Cash Acceptor can accept up to 50 notes from the consumer in a stack or bunch. The notes are passed through several verification tests, counted and held in escrow. The consumer is notified of the count and given the opportunity to continue, add additional notes, or cancel the transaction. If the consumer accepts the count the notes are deposited in the ATM and the consumer is given a receipt with a positive verification that the cash has been accepted by the ATM. If the consumer chooses to cancel the transaction, the original notes inserted are returned. The ability to return the original notes helps eliminate opportunities for money laundering. The immediate positive confirmation to the consumer of the cash deposit inspires confidence in the transaction and eliminates concern that there will be a dispute with the financial institution over the cash deposited. The financial institution has positive confirmation from the ATM that the cash has been accepted and can safely give the consumer immediate access to the funds deposited.
Check Only Deposit
Second, when the consumer has checks to deposit, each check is inserted into the ATM through the ATM Check Processor. As the check is inserted, it is imaged, both front and rear, the image is displayed on the screen and printed on the receipt to give the consumer positive verification that the financial institution has accepted the check. The image on the receipt has been very well accepted by consumers, and helps to inspire confidence and eliminate deposit errors. As the check is inserted into the ATM, it is read by a MICR reader to ensure there is MICR printing on the check, and that it is, in fact, a valid check. If the ATM cannot verify the check, it can be returned to the customer. The image of the check can be immediately passed to the back office electronically where processing can start immediately. There is no need to wait for the paper. Cash and Check Deposit
Third, since the checks are separated from the cash there is no need for dual control and no need for cash stripping, it is already done by the ATM. Checks are stored outside the safe (the deposited cash is in the safe), so they can be collected by less expensive couriers rather than armored car. The cash can be collected on the normal cash replenishment cycle, and not daily. Prior to implementing electronic check presentment, the checks are received at the processing center they are ready to be power encoded and sorted for transit because the data was already processed using the image.