Rototype unveils its new ATM to seal the gap in unmanned branch automation
Wall Street, June 3, 2013 - Rototype International unveiled its new ATM, the CJD 8000 Cashier’s Check machine to a gathering of bank executives at its Wall Street showroom in New York today.
This machine is specially designed to help bank branches pursue cost efficiency measures by automating low-value transactions over the ATM channel. Whilst it is normal to see a cash dispenser, cash and check deposit machines in branches, cashier’s check machines remain to be a rare offering.
Traditionally, cashier’s checks are dispensed over the teller and this method unnecessarily burdens bank employees that otherwise could be deployed for other relational building tasks. Alternatively, checks can also be dispatched over the mail via their branch processing centers; however this method also persists to incur unwanted logistical costs and overheads.
Other technology-driven banks that feature cashier’s check machines offer pre-printed checks, exposing the payment instrument to security issues. At the same time, banking customers are increasingly becoming technology savvy and are expecting to conduct most banking transactions via the mobile and internet channels.
Rototype’s solution facilitates multi-access approach for added customer convenience – Check request and purchase can now be done via mobile devices, internet or at the ATM using Rototype’s intuitive web-enabled software.
Upon successful purchase via mobile devices or the internet, check collection is done by presenting a QR code received on the purchaser’s mobile device at the machine’s scanner.
Harres Tan, CEO of Rototype America explained, “Our unique security feature requires that all the check content to be printed on-demand including security control elements such as MICR code and encrypted digital signature are issued by the bank’s host computers in real time.”
“This unprecedented technology of printing on-demand eliminates possibilities of fraud such as theft of pre-encoded checks from the machine during machine maintenance.” Tan added.
In addition, upon receiving a check, the payee is also able to verify its authenticity online, by decoding the printed digital signature using Rototype’s mobile app.
Similarly, the bank’s processing centers would dramatically reduce the time needed to verify check authenticity by integrating Rototype’s decryption routines to their Cheque Verification System (CVS) software.
With the implementation of Rototype’s new ATM, banks will now be able to complete their unmanned branch strategy along with other traditional ATMs and focus their efforts on building higher value relationships with their customers, the company said.
The CJD 8000 Cashier’s Check machine is certified EMV Level 2 and ADA compliant ready for immediate deployment in the US market.
Rototype International is a global self service banking solutions provider facilitating electronic payments of merchandise at shopping malls via its shared Cashless ATM concept. It is the designer of the world’s only Cashier’s Check Dispensing ATM and the Bundled Cash and Check Deposit ATM.
The company also provides outsourcing services to financial institutions with schemes such as ”pay-per-use” and “all-inclusive” lease/rental of its above solutions. Other services available includes check collection service, back office check processing and 24/7 online status monitoring and control of all self service machines deployed by banks.
Rototype International is dedicated to helping its bank clients stay ahead of competition through banking technological innovations that redefine user experience and transforming business models to withstand the global economic challenges.
V.P Branding & Communications