Is Wincor One-Upping NCR & Diebold With Bulk-Check Deposit ATMs?

Implications: In 2007 25% of banks and credit unions will integrate check imaging/no envelope deposit ATMs and by 2008, 58% of bank's ATMs will be deposit automated enabled compared to 65% for credit unions. Wincor has taken deposit automation tech one step further and moved ahead of competitors NCR and Diebold by offering bulk-check deposit ATMs. Wincor met with executives in August, to take their pulse and plans to integrate check imaged ATMs, tout the benefits of bulk-check deposit ATMs and the potential ROI. Wincor's CCDM (Cash/Check Deposit Module) processes multiple checks at a time in the same slot, and requires no deposit slips or envelopes. In addition, bulk-check deposit ATMs can help banks reduce their TCO (Total Cost of Ownership) by reducing per transaction cost at the ATM. Deposits made with an envelope costs $1.70, teller deposits cost $1.40 and ATMs equipped with deposit automation cost a mere $0.40 cents per transaction, which could add up in cost savings of two billion annually.

Analysis: Comments/Perspective:

Wincor is one-upping competitors NCR and Diebold by offering bulk-check deposit ATMs which can process a stack of up to 50 checks and bank notes. NCR and Diebold's check imaging/no-envelope deposit ATMs can only process a single check or bank note at a time. Wincor's CCDM (Cash/Check Deposit Module) can assist banks and credit unions in acquiring and retaining small business customers, who typically make multiple deposits at at time and want the convenience of banking 24/7, as well as  immediate access to funds. Executives from some of the largest banks and credit unions in the Southeast attended a forum hosted by Wincor in Charlotte NC in August 2007 and overwhemingly agreed that bulk-check deposit ATMs will help improve customer satisfaction and serve small business customers better.

1.  Wincor's CCDM bulk-check deposit ATMs streamline ATM operations by reducing cash handling and check processing expenses, eliminates costly fraud from empty envelopes and improves float time

2.   By eliminating envelopes at the ATM banks and credit unions can start processing deposits immediately and the original check can remain in the machine as long as a week, which can reduce transportation and fraud loss at the ATM  by digitally detecting fraudulent checks

Wells Fargo has already embraced bulk-check deposit ATMs through Wincor's ATMs and Wincor's new deposit feature is touted as the first of its kind deployed in the market and bulk-check deposit automation may help level the playing field for banks, credit unions and ATM manufacturers. As customers confidence increases as a result of banks and credit unions integrating check imaging/no-envelope deposit ATMs, deposits also increased at the ATM.