NCR Intelligent Deposit Solution wins Banker Technology Award

Mumbai: NCR Corporation (www.ncr.com) was announced as the winner in the Self-Service category of the Banker Technology Awards 2003. The awards, sponsored by The Banker magazine, recognise "best of breed, innovation and success in financial technology." The goal of the awards is to highlight those vendors who have made a real contribution to advancing shareholder value and customer service.

NCR won the award for its fully integrated, end-to-end intelligent deposit solution. The solution is unique in that it offers an image-based processing solution from the automated teller machine (ATM) through to the back office. It provides an instant validation to the customer of the amount deposited (cash and cheque) and immediate proof of deposit through the use of NCR''s patented Cheque Image on Receipt technology. This deposit receipt provides more detailed information than any receipt currently available at the teller window. The solution can also enable real-time online credit of cash and checks deposited to the customer''s account.

Globally, over 40 per cent of transactions at the teller counter today are for deposit (the largest single transaction group performed by tellers). Migrating transactions from the teller counter to the self-service channel represents a significant opportunity for cost reduction by automating these high-volume, low-value transactions.

Says NCR Corporation India managing director Deepak Chandnani: "Intelligent deposit is where the future lies for the ATM market in India. This solution will help the ATMs to become a truly self-service channel and leverage the complete efficiencies of this channel. In the context of the Indian market, the features of instant validation and proof of deposit will play a significant role in enhancing the consumer confidence in ATMs as a complete channel, extending beyond the cash withdrawal functionality."

NCR leads the market in self-service intelligent cash and check deposit solutions. Over 70 financial institutions worldwide are reaping the benefits of migrating costly transactions away from the counter to the self-service channel. As well as enabling improved customer service, implementation of the solution has led to processing cost reductions of up to 75 per cent. One customer has succeeded in transferring 100 per cent of its deposit transactions to an NCR self-service solution, saving over $15 million in a 12-month period.

NCR Corporation India was incorporated in July 1996, as a 100-per cent subsidiary of NCR Corporation, based in Dayton, Ohio, USA. Headquartered in Mumbai, NCR India has service and support centres in over 90 locations, covering about 500 cities and towns in the country. NCR India has a team of over 600 professionals dedicated to bring global solutions to the Indian market place and has played a significant role in revolutionising the ATM marketplace in India.

NCR Corporation is a leading global technology company helping businesses build stronger relationships with their customers. NCR''s ATMs, retail systems, Teradata data warehouses and IT services provide Relationship Technology solutions that maximise the value of customer interactions. NCR employs approximately 29,600 people worldwide.