BEIJING--(BUSINESS WIRE)--NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies, today announced that Industrial and Commercial Bank of China Zhongshan Branch (“ICBC Zhongshan”) will expand its use of NCR APTRA OptiCash software to cover its entire network of 600 ATMs. The project’s initial phase, delivered in a cloud-based software environment, demonstrated a reduction in operation costs and cash inventory, as well as maintaining high ATM availability across the bank’s 200 off-site ATMs.
ICBC Zhongshan commenced the pilot for NCR APTRA OptiCash service platform in January 2015 and has achieved more than 20 percent cost savings on cash management services from January to April 2015 as compared to the same period last year.
“China is a country with intensive cash in circulation and banks are bearing a very high cost in cash management. In view of the interest rate liberation, banks in China have to transform the traditional manual approach of cash management to improve operational efficiency,” said Gary Miao, president of Financial Services, NCR Greater China. “NCR is proud to have ICBC Zhongshan as the first bank in China to deploy our cash management solutions. It is imperative for financial institutions to understand the value and cost efficiency that an effective cash management strategy brings. We look forward to working with more banks in China by leveraging our solid global expertise and innovative solutions in order to achieve higher ATM availability and cost savings.”
Prior to the adoption of NCR cash management solutions, ICBC Zhongshan used to manage cash relying heavily on short-term data forecasts and the experiences of certain staff members to make daily cash replenishment visits. In the face of the ever-increasing transaction volume and the bank’s goal to improve precise management, ICBC Zhongshan turned to NCR APTRA OptiCash, a cash optimization solution that forecasts individual requirements for each cashpoint in the network. It analyses data directly from the ATM or from existing infrastructure sources to generate a forecast and cost optimized replenishment strategy for every cashpoint, taking into account cost factors, servicing constraints and capacities.
According to the ATM Industry Association (ATMIA), cash management accounts for nearly 30 percent of an ATM’s annual expenses. They also estimate that effective cash management strategies can save a financial institution from US$3,000-US$10,000 a year within a branch.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.