U.S. research reveals Diebold's deposit automation technology implemented in all 50 states
NORTH CANTON, Ohio, Aug. 11 /PRNewswire-FirstCall/ -- For decades, Diebold, Incorporated (NYSE: DBD) has developed ground-breaking technologies that elevate operational efficiencies and bolster revenues for financial institutions around the world. Now, with more than 150 patents in deposit automation technology, Diebold has envelope-free deposit technology at automated teller machines (ATMs) in each of the 50 states. This expansion of advanced-functionality at ATMs around the country underscores Diebold's dedication to improving the intuitive user experience and delivering what financial institutions and their customers demand. Diebold also provides comprehensive services and support that can streamline implementation of new technologies to help institutions gain a competitive advantage.
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Diebold has shipped more than 25,000 deposit automation modules in the United States, enabling envelope-free deposits since 1991. A proven innovator, Diebold secured its first deposit automation patent in 1995 - years before the 2003 passage of the Check 21 Act, which allows the creation of a digital version of a paper check, eliminating the need for further handling of the physical document. Automating deposit transactions at the ATM can significantly reduce operating costs across the board.
"The design and functionality of Diebold's deposit automation innovations are developed through ongoing research and usability studies conducted in the field to reveal the specific needs of financial institutions and their customers," said Charles E. Ducey, Jr., senior vice president, global development and services, Diebold. "For financial institutions, that equates to a solid return on their investment. With deposit automation, savings realized from the migration of routine transactions away from the teller line are only equaled by the savings from fewer deposit sweeps and the sharp reduction in costly back-end processing."
According to Retail Banking Research, which surveyed financial institutions in 26 countries, deposit automation is one of the fastest growing new technologies. The survey concluded the number of deposit automated ATMs grew globally from 22,000 in 2003 to more than 96,000 in late 2007 and is expected to reach about 687,000 by 2018.
