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Regions Financial Installs DepositSmart ATM Imaging Technology

Regions Financial, an Alabama-based provider of financial services firm, is installing 323 image-enabled DepositSmart ATMs in select markets in Alabama, Florida and Tennessee in 2010, to provide customers with more convenience when making deposits.

Regions Financial DepositSmart ATM imaging technology allows customers to make deposits 24 hours a day without envelopes or deposit slips. Customers can follow the on-screen prompts to deposit checks and cash directly into the ATM, which reads the checks, counts the cash, and totals the transaction.

Regions Financial claimed that DepositSmart technology provides various benefits for customers such as: quick credit for cash deposits, same-day posting of checks, itemized receipt lists the number and denomination of bills deposited and displays images of deposited checks, stacks up to 20 checks or 50 bills at one time for each deposit, or a combination of both with no envelope required, ATM adds up multiple bills and checks and calculates the total deposit amount, no deposit slip needed, ATM screen displays a list of bills and images of checks to be deposited for verification and approval, transactions are encrypted and transmitted through Regions’ network to ensure security and reliability.

John Owen, head of the consumer services group at Regions Bank, said: “Our customers have told us that they want more convenience and flexibility to manage their money and deposit smart ATMs allow customers to make deposits quickly and easily during non-business hours. The response from customers in our pilot markets has been overwhelmingly positive; in fact, deposit volume at DepositSmart ATMs is triple that of traditional envelope deposit ATMs.”