SA’s Capitec Bank to deploy cash recycling and biometric enabled ATMs

South African bank Capitec is set to introduce Diebold cash recycle ATM to its customers, enabling them to perform advanced transactions using notes, coins and checks as well as execute all standard ATM functions using a single machine.

ATM cash recycle machines enables users to deposit cash. The traditional ATM machines are emptied and stocked with currencies manually and cannot allow customers to deposit cash. The machines have the ability to detect fake currencies.

“Our clients will benefit from Diebold’s cash recycling ATMs by having the ability to make advanced transactions, such as coin deposits,” Riaan Stassen, chief executive officer of Capitec Bank, said. “This provides our clients with more control over their money and added convenience since these transactions can be performed at the self-service channel.”

Diebold is a world-renowned technology company providing integrated self-service delivery and security systems and services.

The bank also aims to introduce biometric technology in their ATMs in conjuction with Opteva ATMs. This, the company hopes, will try to tame bankcard skimming. Customers will have a choice of using either the bank card or biometric finger scan in a tiered security model, a first in South Africa.

“Capitec Bank has been a valued customer for more than a decade, and we are excited it is the first bank in South Africa to deploy ATMs featuring advanced transaction functionality and fingerprint recognition technology in a single machine,” said Dave Wetzel, vice president and managing director, Diebold Europe, Middle East and Africa.

Wetzel added: “Diebold’s Opteva ATMs will allow Capitec Bank to improve their branch efficiencies, while offering convenience, security and better outcomes for end users.”

Capitec is taunted to be South Africa’s fastest growing bank with about 4.2 million clients today. The bank says that R5.6 billion (US$663 million) in equity and R24.0 billion (US$2.7 billion) in assets (excluding cash) as at August 31, 2012.

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