Deposita, an innovation-led provider of cost-efficient cash management solutions for retail and banking environments, has developed the third generation of its Automatic Banking Machines (ABM) that now offers a cash management solution for the international market.
The ABM counts and validates bank notes on the customer's premises and communicates via GSM to the Deposita Internal Management Platform, in order to electronically credit cash deposits to the customer's account.
Christo Terblanche, Deposita Commercial Director, comments: "The cash market is our core business. It has seen a 17% year on year increase in the past three years. Besides financial institutions, we are the only supplier of end-to-end cash management solutions in South Africa.
"We developed the ABM and our Banking Platform (Internal Management Platform) from scratch four years ago, and took a decision to gain competitive advantage by making use of the latest in electronic and wireless technology to ensure reliability, and speed of installation. Wireless is the technology of the future for devices in the field."
According to Terblanche, traditional fixed line systems can take up to six weeks to install, and Deposita needs to deliver cash management solutions as and when customers require them. With wireless technology, Deposita is not reliant on any existing infrastructure in order to install the ABM. This provides the required flexibility, as well as reliability in the field.
The Deposita ABM is a secure, online cash receiving and payments terminal. The built-in Bill Acceptor offers unique features that improve operational efficiencies. All canisters are intelligent. Banknotes are deposited into the secure ABM terminal and the depositor is issued with a receipt. The depositor's bank account is then credited with the value of the deposits. All transactions are stored electronically to provide the client with current as well as historical information.
The ABM's communications are based on the Wavecom GSM/GPRS modem, from Trinity Telecomms. According to Terblanche, the Wavecom modem was backward compatible with Deposita's existing technology, which uses a very similar AT Command set. The Wavecom wireless modem provides a cost-effective and reliable platform.
Deposita specialises in customisation of its cash management solutions. The ABM is now a third generation product, and is highly customisable particularly due to its Web-based user interface. This interface enables the client to access the system via the Internet by means of a secure username and password, to gain instant and accurate information about their ABM deposits. It is this customisation that has enabled Deposita to become the largest supplier of ABM's in South Africa.
Terblanche adds that the ABM offers security features and benefits that far exceed that offered by tills and drop safes. The risk ratio is extremely good, which has prompted many insurance companies to insist that the Deposita ABM be installed at clients' sites.
"We are launching our third-generation ABM in August 2008. It now features international capabilities, making it a generic platform that will support technology anywhere in the world. We already have interest from the UK, UAE, Bulgaria and the USA," says Terblanche.
"We will in the future strongly focus on the international market. The Wavecom modems already have all the necessary international certification requirements for electronic hardware, making it instantly portable to the international market. Staying ahead gives us time to design and develop the next generation. It will help us to retain our competitive edge in the global market."
Deposita Solutions - 011 729 3300
Trinity Wireless Solutions - 011 465 7377, enquiries@trintel.co.za
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