VakifBank is extending its self-service channel's functionality by introducing new software and cash recycling systems from Diebold Nixdorf.
The bank is upgrading 400 automated teller machines (ATMs) with multivendor software and cash recycling systems that improve cash processing efficiency while enabling the quick and easy introduction of new services. Additionally, Diebold Nixdorf will support the new systems through a maintenance services agreement to ensure the highest level of availability.
In the cash-heavy, highly competitive Turkish market, financial institutions that reduce their cash management costs are able to gain a competitive edge. According to Diebold Nixdorf, the rollout of cash recycling technology will drive down the total cost of ownership and reduce cash-in-transit visits significantly.
Banks in Europe, in particular, have recognized the advantages of cash recycling and are continuing to invest in the technology. Analyzes conducted by the British market research firm RBR show there were more than 122,000 automated deposit ATMs in Western Europe in 2016, up 6 percent from the previous year.
"Our ATM network currently comprises around 4,000 ATMs and deposit terminals. We expect significant cash-handling savings through the gradual replacement of existing systems with cash recycling technology that has proven itself in extensive tests with regard to performance and availability," said Ilker Yesil, assistant general manager, payment systems and delivery channels at VakifBank.
"We draw on our software and cash management expertise to support banks with efficient, highly available self-service solutions that help create an ideal connected commerce experience," said Christian Weisser, senior vice president and managing director, Europe, Middle East and Africa (EMEA), Diebold Nixdorf.
"Our portfolio for the optimization of cash processes continually improves based on more than 20 years of experience with cash recycling technology. Today, our Cash Cycle Management Portfolio offers banks an end-to-end optimization of all branch cash processes through enhanced software and services that give our customers a 360-degree view of their complete cash cycles."