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Business News of Tuesday, 28 January 2020

Source: Starr FM

Ultramodern ATMs introduced in Ghana


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At the just-concluded ATM roadshow held in Accra with the theme ‘’Innovation with the NextGen ATMs’’, Inlaks introduced into the Ghanaian financial sector, new ultramodern and high-tech ATMs with enhanced features manufactured by the Korean-based Original Equipment Manufacturer, Hyosung Inc, to give customers and banks seamless experience, improved customer experience and more security as they perform their cash and non-cash transactions on Hyosung ATMs.

The newly introduced ATMs – MoniSafe 500, Monimax 8800, Monimax 5600ST, and Monimax 8600S, all come with new and exciting features in line with the global technology trends. The Monisafe 500, called the teller cash recycler, is made to increase branch efficiency in cash handling process where customers are now empowered with a self-service experience in cash deposit on terminals to eliminate errors on cash counting and counterfeit. The Monimax 8800, the video teller machine, also is situated in the branch and has the function of performing routine self-service transactions to customers for a wide range of transactions and has the chance to interact with customer-service person at the back office or contact center via a live video.

The latest FinTech enabled cash dispenser ATM, Monimax 5600ST, is designed with a high capacity cash dispenser, faster dispensing technology, robust system design, and configuration against vandalism. It also has new features as near field communication (NFC) reader for contactless transaction and finger print reader for biometric transactions on the ATMs. Lastly, the 8600S, a modern cash recycler, is powered by the latest cash recycling technology as well as improved fraud prevention technology. The transit cassette available in the unit can offload and replenish the machine without exposing cash from the safe that improves efficiency and enhances security.

The Executive Director, IBU Africa Operations Inlaks, Tope Dare, said the ATMs will do more than just dispense cash in the years ahead. He said they will deliver all facets of the financial propositions such as service, sales, relationship building, promotional and brand and provide a range of community functionality and needs; for example, ticketing for events, among others.

Also speaking at the launch of the machines in Accra, Country Manager of Inlaks, Olufunmilayo Okubena, said the purpose is to make banking life easy and convenient for customers and banks. “It is all about the customer. We are looking to offer the next generation technology to make the customer experience seamless in terms of ease of use and in terms of convenience for the customer where outside of just using your ATM cards, you can also get value added services from the ATM.

And in terms of what we bring to bear, we are evolving the ATM business whereby from the standard ATMs that just dispense cash, we are offering solutions which can actually accept cash and cheques and you can even have a direct interaction with the customer service person via video and telephone. It also affords the banks an opportunity to sell their services by this interaction,” he said.

The Manager, Global Sales at Hyosung, Ryan Kim, also highlighted the need for banks in Ghana to use modern ATMs, especially for the fact the transactions in the country are cash driven and can consume a lot of time at the bank. “Ghana is still a cash driven country so we are thinking that large volume of cash recycling; large volume of cash dispenser can be a solution in the market. So we bring our technology with large capacity of cash dispensing and recycling ATMs. Let us imagine going to the counter and giving the teller bulk money; now you just have to load it in the ATM machine and it is credited to your accounts. So you can save a lot of time and cost,” he said.

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