Hitachi-Omron Terminal Solutions has announced that India’s leading public sector bank, Bank of Baroda (BOB) has launched cash recycling operations with Hitachi’s Cash Recycling ATM (HT-2845-V) on July 20th.
As per the press statement, BOB became the first bank in India, in implementing technology, to deploy Cash Recycling ATM solution for its customers. The cash recycling operation enables deposited cash to be dispensed in future transactions. This reduces frequency of cash replenishment and cash loading in the machine, and also space of self-service terminals for cash deposit and withdrawal thereby improving efficiency of the bank’s cash operations.
Kokichi Murayama, Operating Officer and General Manager Global Business Group of Hitachi-Omron Terminal Solutions, Corp. said, “We entered Indian market in 2010 and have been constantly putting effort to introducing the concept of the most optimal solution for cash deposit. Now, I’m very glad and excited that we have started cash recycling operations with one of our premium customers, BOB, and believe our Cash Recycling ATM will contribute to improve efficiency of BOB’s operations.”
BOB has already installed 100 units of Hitachi’s Cash Recycling ATMs (HT-2845-V) in 2013. In the past, the Cash Recycling ATM was operated only as a Bunched Note Acceptor (BNA) to deposit cash. BOB and Hitachi have jointly worked on the existing system to upgrade it successfully for cash recycling operations, adds the statement.