Industry-leaders join forces to install cash recycling functionality in ATMs in North America

Industry-leaders join forces to install cash recycling functionality in ATMs in North America
22.06.2015 01:00 am

Industry-leaders join forces to install cash recycling functionality in ATMs in North America


Nautilus Hyosung America (Hyosung), the #1 provider of ATMs in the United States and market leader in Branch Transformation solutions, today announced a partnership with Elan Financial Services (Elan), a leader in electronic funds transfer (EFT) processing, to provide banks and their customers with a consumer-focused, innovative ATM experience.

Elan’s customers will now have access to Hyosung’s revolutionary MX8800 and MX 7800i solutions to facilitate the evolution of the branch distribution channel. This solution provides customers a staff-assisted channel for conducting routine transactions while enabling bankers to spend quality time consulting with customers to better understand their banking needs and build more impactful relationships.

The implementation of Elan’s comprehensive cash management system coupled with the recycling capability of the MX8800 enables branches to use a customer’s deposited cash for future withdrawals, reducing the frequency of cash replenishments. In addition to streamlining branch operations, Elan offers a flexible processing platform that provides high availability and responsive processing of ATM and debit transactions.

“We are proud to partner with Hyosung in the delivery of this solution,” said Suzanne Galvin, SVP, Product Management for Elan Financial Services. “The combination of cash recycling, multi-denomination cash and single deposit settlement represents a significant step forward in branch service delivery and efficiency and an improved consumer experience.”

“Our partnership with Elan and subsequent cash recycling rollout is an example of our commitment to delivering banks and their customers the highest quality products and user experience possible,” said Andy Orent, President and CEO of Nautilus Hyosung America. “We are thrilled to partner with Elan and look forward to future collaborations.”

Related News

Customer expectations driving growth in automated deposit ATMs worldwide

Automated deposit terminals (ADTs) offer a range of benefits for banks, but are also increasingly sought after by customers looking to make quick and convenient... Read more »

Auriga, provider of next-gen banking technology, opens its first offices in Spain and Mexico

 Auriga, an Italian company specialising in omnichannel banking solutions, today announced the opening of two new... Read more »

COVID-19 prompts interest and innovation in cardless ATM withdrawals

The number of ATMs offering cardless cash withdrawals is increasing as deployers around the world continue to embrace contactless technologies and adopt new solutions... Read more »

Most countries see growth in ATMs despite pressure from cashless payments

Payment cards and other cashless payment methods are reducing demand for cash, but many countries and sectors remain heavily cash dependent

Fall in... Read more »

Recycling ATMs in Latin America to treble by 2024

Deposit automation and recycling terminals are revolutionising the way banks operate across the globe, allowing routine transactions to be migrated from the teller to self-... Read more »

Brattleboro Savings & Loan Selects NCR to Elevate Digital Banking Experience

NCR (NYSE: NCR), a global enterprise technology provider for the financial industry, today announced that Vermont-based Brattleboro Savings & Loan (BS&L) chose NCR to... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel