[sbinews] ATMs of tomorrow will clear cheques (Business Standard)

  • From: "Rajendra S. Pai" <rspai9@xxxxxxxxx>
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Sat, 1 May 2004 05:10:17 -0700 (PDT)

ATMs of tomorrow will clear cheques 
(Business Standard)
R Raghavendra / New Delhi May 01,2004 
NCR, the leading ATM manufacturing company and a
subsidiary of Ohio-based NCR Corporation, is all set
to take the ATM experience to the next level. In what
can be a confidence building measure for customers,
the company is testing its Deposit Automation process
on ATMs.  
This means that a customer could deposit a cheque or
cash at an ATM and receive receipts after real-time
updating. NCR expects the process to be fully
implemented in the next 2-3 years.  
When deployed these machines will be able to read the
currency notes and instantly provide a receipt,
thereby assuring the customer that the amount has been
deposited. In case of a cheque, an image of the
deposited cheque will be given to the customer as a
proof of clearance.  
A well-known bank is already testing the ?image-based
clearing mechanism? that has been developed by NCR.
This project is in a trial phase and is currently
being tested among specific branches of the bank.
These branches are using the mechanism for intra-bank
cheque clearance.  
The image based clearing will have special machines at
the receiving point and the cheque processing centre.
At the front end, there will be special machines and
servers to scan both sides of the cheque. These images
will be stored, sorted out and sent to a central
The image exchange servers will transmit the image to
the payee bank/branch and the account status will be
updated (the cheque debited) real-time. NCR expects
that this mechanism will enable cheques drawn on
remote branches to be cleared within two days, as
against 10-12 days.  
Speaking to the Business-Standard, Deepak Chandnani,
managing director, NCR Corporation India Pvt Ltd,
said, ?RBI is working towards image cheque truncation
(being able to do without physical cheques) whereas
some banks are already testing it internally. Since we
need the RBI to go through the whole process, it will
take nearly 2-3 years to bloom. We are yet to test the
cheque clearance technology on ATMs.?  
NCR is already conducting roadshows in order to
showcase ATMs as a Teller. Having recently launched
the ATM-Asan, which is more suited for Indian
conditions, the effort to move towards Deposit
Automation is yet another step to ease the process of
banking to customers.  
NCR has a dominant share of the 13,000 installed ATMs
in the country. As this is much lesser than the
installed base in China (65,000 ATMs), UK (140,000
ATMs) and US (300,000 ATMs), there is tremendous scope
for growth.  

R.S.Pai, Web Address: http://rspai.tripod.com

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