Intelligent ATMs from DMS:

Future of self service banking

There are over 1,200 ATMs in Sri Lanka which until now have mainly been utilised by banks to dispense cash. DMS has introduced the first intelligent ATMs to this country and these machines are capable of accepting envelope-less cash deposits and envelope-less cheque deposits, thereby enabling banks to extend immediate credit to customer accounts.

Data Management Systems Ltd (DMS), one of Sri Lanka's IT and Financial Systems Integrators, now in its fourth decade of supplying best of breed solutions in Sri Lanka and overseas, announce the successful implementation of Sri Lanka's first and only Intelligent Automated Teller Machines (ATMs) which are running live at several locations in Sri Lanka, implemented by a few visionary local banks who want to make available to their customers, enhanced deposit services in addition to the traditional dispensing of cash on the self service channel, even when branches are closed, while also eliminating the need for envelopes and filling out of deposit slips.

These ATMs that have been installed and implemented in Sri Lanka by DMS are manufactured by Diebold Inc., USA, a world leader in ATMs and the Sri Lanka Rupee Currency has been certified for acceptance on Diebold's Opteva intelligent ATMs. All cheques in circulation in Sri Lanka can also be deposited without envelopes, thereby enabling cheque truncation to be initiated at the point of deposit.

Other functions available on these advanced function ATMs being supplied by DMS include Bar Code scanners to facilitate payment of utility bills, the ability for customers to obtain A4 size statements from the ATM on demand, and also update their passbooks with the optional advanced page turning passbook printer. The addition of a touch screen makes these machines function as information kiosks.

The envelope-less cash acceptor (known as the Bulk Note Acceptor or BNA) functions in the following manner:

* Accepts a stack of mixed-denomination Sri Lanka Rupee currency without an envelope

* Quickly validates and counts the deposited currency - this currency certification project took almost 2 years to complete in the USA and Germany.

* Displays deposit details on the ATM screen for customer to validate

* Holds cash in a secure area and returns it if the customer rejects the transaction

* Customer has the option to deposit additional currency

* Deposits currency into a secure container held within the safe of the ATM

* Prints itemised deposit details on consumer receipt

The envelope-less cheque deposit module (known as the Intelligent Depository Module or IDM) functions in the following manner:

* Accepts individual or, optionally, up to 30 cheques at a time without an envelope

* Captures a high resolution image of both sides of the cheque

* Reads the courtesy amount utilising OCR without consumer input

* Detects and reads the MICR line optically

* Checks for endorsements

* Performs an image quality analysis of the cheque deposited

* Displays cheque image (front and rear) and courtesy amount on ATM screen for customer verification

* Holds cheque in a secure area and returns it if the consumer rejects the transaction

* Prints cheque image on consumer receipt as proof of deposit.

The benefits to banks in implementing these intelligent ATMs are:

1. Savings on costs of printing and supplying deposit slips

2. Savings on costs of supplying envelopes.

3. Off-loading these non-revenue generating functions to a machine and permits human tellers to give personalised attention to customers and sell other products and services of the bank.

4. Eliminates deposit fraud (empty envelope fraud)

5. Ability to initiate cheque truncation at the point of deposit of cheques, thereby expediting the clearing of cheques and crediting/debiting customer accounts

The benefits to citizens and businesses from these ATMs are:

1. No necessity to stand in line during banking hours to make cash/cheque deposits

2. No necessity to fill up deposit slips

3. Receive immediate credit for deposits

4. 24 hour access, 365 days a year

5. Businesses can deposit their day's takings at the end of each day and get immediate credit

6. Speedier processing of 3rd party cheques with cheque truncation commencing at time of deposit.

Based on the above facts, the benefits to the citizens of Sri Lanka can be clearly seen as they will obtain immediate credit when deposits are made at these Intelligent ATMs while not having to fill deposit slips and stand in a queue during banking hours.

Other features such as ability to pay bills and obtain detailed statements maximise the services available at these advanced function ATMs and reduces the customer's need to visit his or her bank branch.