Nearly 35 years after partnering to deliver financial self-service convenience to South America with the first automated teller machine (ATM), Banco del Pacifico and Diebold are advancing banking technology in the region by introducing cash recycling technology to Ecuador.
The enhanced ATM reliability of cash recycling technology allows Banco del Pacifico to expand into underbanked regions by reducing the frequency and cost of cash-replenishment visits. In total, the deal includes more than 200 new units mixed between cash-dispensing and cash-recycling ATMs.
"Banco del Pacifico has a long history of leading with first-to-market technology to benefit our customers and operations," said Efrain Vieira, chief executive officer, Banco del Pacifico. "Introducing cash recycling at the ATM reduces our cash management demands, allowing us to expand to remote, underbanked communities we were previously unable to serve."
Diebold is also deploying RemoteTeller™ System (RTS) stations at select Banco del Pacifico locations to enhance branch efficiency and security. The teller-less branches use pneumatics and two-way video, allowing tellers to service multiple customers from a secure location inside a branch. RTS integration also makes the branch a less attractive target to criminals, as tellers and assets are less accessible and all transactions require a video interaction that can easily be recorded.
"Diebold is proud to be Banco del Pacifico’s strategic partner in their continuing efforts to connect Ecuadorians with their cash in a more secure, convenient way," said Octavio Marquez, senior vice president and managing director for Diebold’s Latin America division. "Diebold is continuously working to collaborate with customers and deliver purposeful innovations that enhance the banking experience and extend financial self-service to underbanked populations."