Signs multi-million dollars deal with NCR Corporation to roll out country’s first dual deposit ATMs and software services that transform the banking experience
RIYADH, Saudi Arabia – March 03, 2014 – Saudi Investment Bank (SAIB), a prominent financial institution in Saudi Arabia, will better serve customers with a number of new ATMs with video technology from NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies. NCR APTRA Interactive Teller will allow customers to complete over 95 percent of typical branch transactions right at the ATM, 24 hours a day, with the assistance of a live, remote teller.
Supporting SAIB’s goal to be Saudi Arabia’s financial partner of choice, NCR will also deliver the country’s first, most advanced NCR SelfServ dual cash deposit ATMs that are highly configurable and offer a unique dual deposit ATM, making it one of the highest capacity ATM in the industry. NCR SelfServ ATMs allow the bank to better serve its customers, especially its business customers, who prefers to make bulk deposits at the ATM beyond banking hours. NCR SelfServ runs on NCR APTRA AANDC software platform which seamlessly integrates a suite of the industry’s most trusted applications and management tools to make every day banking transactions easy.
Configured with ‘scalable cheques processing module’ (SCPM), NCR APTRA Interactive Teller can accept and process cheques, while also enabling the remote teller to immediately cash cheques for customers from anywhere, at any time. As part of the agreement, NCR will provide software application development, system analysis, support services and related training programs.
Mr. Suliman Al-Obaid, General Manager, Information Technology and Shared Services said, “SAIB has always made technology investments in proven innovative technologies as part of our Information Technology strategy. Investment in our customers branch automated services is a visionary step to make banking experience in Saudi Arabia more convenient and easier than it has ever been before. I am fully confident that our new FLEX BankPoint concept will truly change the way our customers experience banking. Customer engagement is a key strategy and the focal point of everything we do. We want our customers to enjoy banking with us across all channels as we transform our branch experience in order to be The Bank of choice.”
Further, by making counter-based transactions available 24 hours a day, consumers and businesses can bank at a time that suits them, rather than when the branch is open. By effectively extending branch hours around the clock, NCR dual deposit ATMs further reduce queues and waiting time when the branch is open.
“SAIB is leading the way when it comes to implementing new solutions with a major impact on enhancing the consumer experience. NCR is proud to partner with SAIB to introduce innovative technologies and software solutions that not only allows SAIB customers to execute branch banking transactions 24/7, but also helps to reduce queues at the branch allowing more face-time for tellers with the customers,” said Wael Elaawar, managing director, NCR Saudi and North Gulf.
APTRA Interactive Teller offers more services than can be conducted on an ATM or other self-service devices. For instance, customers can perform secure transactions, as the remote teller provides customers access to cash in their accounts in amounts over the standard ATM daily cash withdrawal limits. An internal study done by NCR showed that implementation of NCR’s Video Interactive Teller resulted in a 33 percent reduction in transaction time and the cost-per-transaction is 40 percent more economical compared to a branch teller transaction.
The Saudi Investment Bank (SAIB) is a Saudi Arabian joint stock company established in 1976. SAIB’s shareholders include JP Morgan Chase, Mizuho Corporate Bank, Saudi institutions and nationals. Apart from traditional wholesale, retail and commercial banking products, SAIB finances government and private industrial sectors and trade finance products for facilitating imports and growing Saudi exports.
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 485 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 approximately 29,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.