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(released in July, 2014)
In 2013, Karur Vysya Bank (KVB) was experiencing explosive growth and the demand for its services both at the merchant as well as the retail level was gaining significant upward momentum. This expansion however brought with it several challenges such as increased demand for teller services, limitation of service resources due to restricted working hours and increased security concerns.
After rigorously researching for the right solution and evaluating the products of other Cash Recycling ATM terminal solutions providers, KVB chose Hitachi-Omron Terminal Solutions as its most preferred Cash Recycling ATM solutions provider. Experts from Hitachi-Omron Terminal Solutions were called in to assess the situation and come up with an efficient long-term solution tailored to the needs of KVB.
Hitachi-Omron Terminal Solutions experts after closely analyzing the needs of the KVB chose the HT-2845-V Cash Recycling ATM. The HT-2845-V ATM terminal was installed at over 150 locations of KVB across India in a short time. This product served as a critical link in the bank's customer service supply chain elevating its customer service and commitment to an altogether new level. It successfully addressed the ever increasing need for swift cash deposit apart from ensuring smooth regular cash transactions.
Hitachi has been known globally for being at the forefront of innovation and creating ground breaking technologies, products, services and solutions. Hitachi's Mechatronics Systems Division and Omron's Financial Division combined and formed Hitachi-Omron Terminal Solutions, Corp. in October 2004. The joint venture became the world's most trusted Terminal Solutions vendor by further developing the companies' deep technological reserves such as sensing and handling technologies for cash, cards, passbooks, forms, etc.
Hitachi-Omron Terminal Solutions, known as a pioneer, revolutionized the banking sector by providing the world's first ATM utilizing MS (magnetic stripe) card that stored necessary information. This immensely helped the banks to streamline their banking business and automate cash transactions. Hitachi-Omron Terminal Solutions continues to research the needs of banking institutions and to innovate terminal solutions via the fusion of original technologies.
Hitachi-Omron Terminal Solutions experts have formulated an ATM solution which is equipped with such features that make it more reliable than the traditional ATMs and has a large cash cassette which means less downtime. It is called the Cash Recycling ATM (HT-2845 Series).
This case study presents how the Cash Recycling ATM (HT-2845-V) enabled Karur Vysya Bank (KVB), a premier bank in India, to gain control over the growing volume of transactions across its multiple branches and helped it deal with the heavy customer presence at these branches.
Play the video "State-of-the-art ATM Technology- Overview" (Time - 2 minute 03 seconds)
Note: "BNA (Bunch Note Acceptor) is the industrial term of Cash Deposit ATM in India"