Today, the latest of Česká spořitelna’s deployment of 250 OKI Cash Recycle ATMs is empowering customers with convenient and highly efficient banking services. The milestone machine is located in Prague, some 9,000 kilometres from OKI’s Tokyo headquarters. This achievement comes only months after the bank became the first in Czechia to support ATM cash withdrawals via QR code.
Convenient, efficient and secure: The benefits of cash recycling ATMs
Cash recycling ATMs enable customers to withdraw and deposit banknotes from a single machine. Deposited banknotes can be re-issued to people making cash withdrawals.
Note recycling technology creates an efficient cycle that benefits banks, business owners, individual customers and the environment by promoting:
- Fewer cash replenishment trips - reducing costs and carbon emissions
- Fast and secure deposits with less margin for human error while minimizing criminal activity
- A steady supply of banknotes decreasing the risk of shortages
- Convenience
An overview of OKI’s ATM-Recycler G8
Did you know that OKI invented the world’s first cash recycler ATM in 1982? Besides Česká spořitelna, many European banks are considering or in the process of deploying cash recycling technology - including OKI’s eighth-generation ATM-Recycler.
The OKI model is built using the most advanced Cash Recycling technology. Cash is deposited and dispensed vertically via a secure slot that can handle up to 200 banknotes per transaction. When a customer inserts banknotes into the machine, it identifies any misshapen bills and foreign objects (such as receipts or wrappers) before they enter the note recognition unit. This intelligence prevents blockages and service disruptions – boosting operational efficiency.
Using cash recycling ATMs from multiple different vendors
Česká spořitelna may have said ‘okay’ to OKI, but their self-service fleet also includes cash recycling ATMs from NCR. From a software standpoint, this means there are more vendor-specific requirements to accommodate. While some banks respond to these variables by investing in vendor-specific solutions, Česká spořitelna took a more efficient approach.
With KAL’s multivendor software, the bank’s software solution is universally compatible with all the machines in its ATM network including the recycling machines. The bank is free to expand the diversity of its self-service fleet knowing that their KAL software is certified on over 40 leading manufacturers and 250 different models.
The future of cash recycling
In 2019, industry researchers at RBR London predicted a 25% increase in the number of global cash recycling ATMs by 2024. A more recent press release from the same organization provided some additional insights and predictions:
- The cash recycling ATM segment is growing faster than other ATM segments
- Globally, there will be a 1.2 million + cash recycling ATMs by 2026
- Demand for cash recycling ATMs will increase, while single-function ATMs will decrease
Overall, Česká spořitelna’s decision to embrace this technology demonstrates their continued commitment to maintaining an efficient and future-ready ATM network.