MOSCOW--(BUSINESS WIRE)--NCR, the global leader in consumer transaction technologies, today announced it has begun modernizing the ATM network of VTB24, one of the leading providers of financial services in Russia, with NCR SelfServ™ cash recycling functionality. The modular self-service systems help to improve the quality and reliability of service and make everyday financial transactions more convenient for customers.
A cash recycling ATM dispenses cash deposited by one customer to the next customer withdrawing money. The cash recycling feature has been approved by the Russian Central Bank in early 2013. Since then, VTB24 has upgraded 65 of the existing intelligent deposit ATMs within its network to recycling functionality in Moscow and St. Petersburg. Cash recycling allows VTB24 to free up their bank tellers to provide superior customer service and engage new clients. At the same time, the bank reduces the number of monthly visits from CITs by half because the ATM does not have to be replenished as often, thus reducing costs for cash collection.
“The implementation of cash recycling functionality will allow us to reduce operational expenses of our ATM network as the number of replenishments will be decreased. Also, the ATMs don’t have to be carried to the plant but are upgraded in the branch. As a result, our customers profit from higher network availability,” commented Aleksey Degtyarev, vice president and head of the self-service network of VTB24. “This is the first project in Russia of such kind. Overall, the cooperation with NCR has been so positive we will continue the modernization in several megacities this year.”
The plan is to upgrade more than 100 units in other regions of Russia and to buy additional cash recyclers throughout 2014.
“With the Central Bank’s approval of the cash recycling module, financial institutions throughout Russia are now evaluating and making plans to upgrade their ATM networks in order to effectively interact with their customers and secure their position as an attractive financial institution," emphasizes Igor Stukanov, Area Industry Leader Finance at NCR Russia. “We are proud to lead this modernization project with one of the leading banks in Russia. As banks begin to upgrade their network, it is important that they turn to a solutions provider with experience. NCR is the leading ATM supplier for over 27 years.”
About VTB24 Bank
VTB24 Bank is one of the major players on the Russian Retail banking services market. We are part of the international VTB Bank Group and focus on servicing of individuals, private businessmen, and small businesses. The Bank network includes 1024 branches and subsidiary offices in 72 regions of Russia. We offer basic banking products to our clients that are accepted in the international financial practices. The Bank’s staff adheres to the values and principles of the international VTB Bank Group. One of the Group’s major tasks is the maintenance and improvement of the developed financial system (www.vtb24.ru).
About NCR
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 485 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with approximately 29,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.
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